Highlights: Monero is in a minor correction after hitting $368.89 resistance Correction mainly due to profit taking after intraday day Continuation of the rally could see XMR soon hit $400 Monero (XMR) is in the green today and is among the outliers in the market at the moment. When going to press, Monero was trading at $361.53, up by 4.92% in the day. Monero trading volumes are on the rise as well. At the time of writing, Monero trading volumes stood at $258.16 million, an increase of 14.74% in the day. This is an indicator that buyers are coming in strongly and are expecting Monero to keep doing well going into the future. There are a couple of factors that support the excitement around Monero going forward.  Strengthening Privacy Narrative Favors Monero One of them is the strengthening privacy coins narrative at the moment. Every cryptocurrency cycle, there is always a narrative that delivers superior gains. Among the narratives that have led to parabolic gains in the past are meme coins and L1s. While this crypto cycle appears different from the rest in terms of broader market momentum, a narrative is still forming. The narrative is particularly around privacy cryptocurrencies. In the last two months, privacy coins have been outperforming the rest of the market by a big margin. PRIVACY SEASON IS HEATING UP We’re seeing a clear rotation as privacy focused tokens start to move independently from the broader market trend. As attention shifts toward data security and anonymity, coins like $ZK, $ZEC, $ZEN, $DCR, and $DASH are showing relative strength… pic.twitter.com/PIoFCadPjn — Borgon (@Borgon_Degen) November 5, 2025 The result is that capital is rotating heavily into privacy coins regardless of their ranking in the charts. Monero, being one of the largest privacy coins by market cap and adoption, has benefited immensely from the privacy narrative. It continues to gain momentum despite the fact that it delisted from most top exchanges. As the narrative around privacy coins gets stronger, Monero could be headed for a rally to new highs in the short to medium term. Monero’s Delisting From Top Exchanges Favors Its Adoption Long Term The fact that Monero was delisted from all top exchanges also favors it as the narrative around privacy coins gets stronger. That’s because the primary reason privacy coins are gaining popularity is the desire for financial confidentiality. People are tired of control and government overreach in the digital space. Glad they delisted $XMR from all the exchanges. This thing barley moves down when BTC dumps 20k$XMR $Monero pic.twitter.com/Qe9XihaR1X — NJ (@MoneroToshi1k) November 4, 2025 However, not all privacy coins are created equal. The ones that offer the most privacy are the ones that find it hard to get into centralized exchanges. As such, users increasingly seeking to shield transactions are likely to gravitate more towards those that offer the most privacy. Monero, by virtue of being unlisted on most top exchanges, scores highly on this metric. As such, it could experience a significant increase in the number of investors and users going into the future. This could play a role in pushing it to new highs now that the privacy coins narrative is getting stronger.  Recent Monero Upgrades Favor More Upside At the same time, Monero is getting a boost from the fact that it has made some upgrades to the network. Monero has, in recent months, experienced multiple attacks from bad actors. Not only has it survived them, but the community has taken steps to make the network even better. For instance, the community recently implemented the Fluorine Fermi upgrade, which is designed to guard against spy nodes. Such improvements add to investor confidence in Monero, and see its price rally to new highs going into the future.  Technical Analysis – Monero In Minor Correction After Rally After a rally for the better part of the last 24 hours, Monero appears to have hit strong resistance at $368.89. If bears remain in control intraday, Monero could drop to the $330.62 support in the short term. Source: TradingView On the other hand, if bulls regain momentum, the key level to watch would be the $368.89 intraday resistance. If bulls are strong enough to breach the $368.89 resistance, then a rally to prices above $400 could follow. Of these two scenarios, a rally is more likely due to the strengthening narrative around privacy coins. eToro Platform Best Crypto Exchange Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users 9.9 Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Highlights: Monero is in a minor correction after hitting $368.89 resistance Correction mainly due to profit taking after intraday day Continuation of the rally could see XMR soon hit $400 Monero (XMR) is in the green today and is among the outliers in the market at the moment. When going to press, Monero was trading at $361.53, up by 4.92% in the day. Monero trading volumes are on the rise as well. At the time of writing, Monero trading volumes stood at $258.16 million, an increase of 14.74% in the day. This is an indicator that buyers are coming in strongly and are expecting Monero to keep doing well going into the future. There are a couple of factors that support the excitement around Monero going forward.  Strengthening Privacy Narrative Favors Monero One of them is the strengthening privacy coins narrative at the moment. Every cryptocurrency cycle, there is always a narrative that delivers superior gains. Among the narratives that have led to parabolic gains in the past are meme coins and L1s. While this crypto cycle appears different from the rest in terms of broader market momentum, a narrative is still forming. The narrative is particularly around privacy cryptocurrencies. In the last two months, privacy coins have been outperforming the rest of the market by a big margin. PRIVACY SEASON IS HEATING UP We’re seeing a clear rotation as privacy focused tokens start to move independently from the broader market trend. As attention shifts toward data security and anonymity, coins like $ZK, $ZEC, $ZEN, $DCR, and $DASH are showing relative strength… pic.twitter.com/PIoFCadPjn — Borgon (@Borgon_Degen) November 5, 2025 The result is that capital is rotating heavily into privacy coins regardless of their ranking in the charts. Monero, being one of the largest privacy coins by market cap and adoption, has benefited immensely from the privacy narrative. It continues to gain momentum despite the fact that it delisted from most top exchanges. As the narrative around privacy coins gets stronger, Monero could be headed for a rally to new highs in the short to medium term. Monero’s Delisting From Top Exchanges Favors Its Adoption Long Term The fact that Monero was delisted from all top exchanges also favors it as the narrative around privacy coins gets stronger. That’s because the primary reason privacy coins are gaining popularity is the desire for financial confidentiality. People are tired of control and government overreach in the digital space. Glad they delisted $XMR from all the exchanges. This thing barley moves down when BTC dumps 20k$XMR $Monero pic.twitter.com/Qe9XihaR1X — NJ (@MoneroToshi1k) November 4, 2025 However, not all privacy coins are created equal. The ones that offer the most privacy are the ones that find it hard to get into centralized exchanges. As such, users increasingly seeking to shield transactions are likely to gravitate more towards those that offer the most privacy. Monero, by virtue of being unlisted on most top exchanges, scores highly on this metric. As such, it could experience a significant increase in the number of investors and users going into the future. This could play a role in pushing it to new highs now that the privacy coins narrative is getting stronger.  Recent Monero Upgrades Favor More Upside At the same time, Monero is getting a boost from the fact that it has made some upgrades to the network. Monero has, in recent months, experienced multiple attacks from bad actors. Not only has it survived them, but the community has taken steps to make the network even better. For instance, the community recently implemented the Fluorine Fermi upgrade, which is designed to guard against spy nodes. Such improvements add to investor confidence in Monero, and see its price rally to new highs going into the future.  Technical Analysis – Monero In Minor Correction After Rally After a rally for the better part of the last 24 hours, Monero appears to have hit strong resistance at $368.89. If bears remain in control intraday, Monero could drop to the $330.62 support in the short term. Source: TradingView On the other hand, if bulls regain momentum, the key level to watch would be the $368.89 intraday resistance. If bulls are strong enough to breach the $368.89 resistance, then a rally to prices above $400 could follow. Of these two scenarios, a rally is more likely due to the strengthening narrative around privacy coins. eToro Platform Best Crypto Exchange Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users 9.9 Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.