Privacy Coin Momentum Builds With New XMR Targets

Monero (XMR) is back on traders’ radar after a clean rebound from its 5-day trend ribbon and renewed momentum across the privacy sector, strengthening the view that the Binance delisting in early 2024 ended up being a major accumulation opportunity.

Now, with Monero pressing against the 1.0 Fibonacci extension level, traders are eyeing a series of ambitious upside targets should XMR break cleanly above $516, according to an analysis shared by popular cryptocurrency analyst CoinsKid in an X post on December 2.

Now, with Monero pressing against the 1.0 Fibonacci extension level, traders are eyeing a series of ambitious upside targets should XMR break cleanly above $516.

Why XMR’s Trend Ribbon Matters

For CoinsKid, the playbook is simple and involves an intact uptrend if Monero holds above its 5-day CoinskidRibbon, a custom trending metric that has captured major reversals in previous cycles. Recent attempts to break down were absorbed quickly, with price snapping back above support.

This sustained strength mirrors sentiment across the privacy ecosystem. Zcash (ZEC), another major privacy coin, recently ‘mooned,’ igniting speculation that capital could rotate toward Monero next. If the momentum expands, XMR’s higher-timeframe Fibonacci structure comes into play.

Fibonacci Targets Traders Are Watching

The key breakout level is the 1.0 Fib extension at $516. If Monero clears that threshold with conviction, the next upside levels become 1.272 Fib at $812, 1.414 Fib at $1,029, and 1.618 Fib at $1,445.

These are not short-term day-trader numbers but represent multi-month extension targets aligned with Monero’s broader higher-low structure dating back to 2023.

Currently, Monero is trading at $400.78, which indicates an increase of 0.9% in the last 24 hours, a 6.09% advance across the previous seven days, and a 15.04% gain accumulated on its monthly chart, according to the most recent pricing information.

If XMR replicates past privacy-sector cycles, where consolidations were followed by explosive vertical rallies, these targets sit within historical precedent. The risk is straightforward: losing the 5-day ribbon would invalidate the bullish structure and shift the trend back toward deeper support.

But until then, bulls remain firmly in control.

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