Monero jumped by double digits on June 11 as privacy-coin demand returned after two fresh ecosystem updates.
Summary
- Monero rose above $350 after double-digit daily gains pushed XMR back toward breakout resistance.
- Cake Wallet’s Passport Prime integration supports self-custody access after exchange delistings reduced XMR availability.
- Taylor Hornby adding Monero to his audit queue brings fresh attention to privacy-coin security.
According to crypto.news market data, XMR traded near $351 to $354, rising more than 10% over 24 hours.
Meanwhile, the move came after Cake Wallet expanded Monero support through FOUNDATION’s Passport Prime hardware wallet. Traders also reacted to security engineer Taylor Hornby saying he would add Monero to his audit queue.
Monero price rebounds from demand zone
Monero traded near $351.53, with a 24-hour range between $308.46 and $355.88. Its daily volume stood near $142.36 million, while its market cap was about $6.59 billion.
The token remains down 13.25% over the past month, but the latest move has turned short-term momentum back toward buyers. XMR also remains above its recent demand zone near $266 to $320.
The daily chart shows XMR recovering after a sharp correction from its January spike toward $800. Price is now moving closer to the descending trendline that has capped rebounds for months.
Analyst Lucky said the setup is “finally cooking” and added that XMR is moving toward a possible historic breakout. The view appears tied to price pressing near the downtrend line.
Cake Wallet support helps self-custody narrative
Cake Wallet’s integration of Monero into FOUNDATION’s Passport Prime matters because XMR users often focus on self-custody. Hardware wallets help users store assets away from centralized platforms.
That point carries more weight for Monero after exchange delistings reduced access in several markets. Binance previously removed XMR due to compliance concerns, while other exchanges have also limited privacy-coin support.
When major exchanges delist a privacy asset, holders often move toward wallets and peer-to-peer tools. That makes secure custody more important for users who still want to hold or transact in XMR.
The Passport Prime integration gives Monero holders another storage option. It also supports the wider privacy theme that has remained central to Monero since launch.
Security audit news adds another catalyst
The second driver comes from Taylor Hornby, the security engineer who found a critical Zcash Orchard privacy-pool flaw. The bug had reportedly gone undetected since May 2022.
In theory, that flaw could have allowed counterfeit ZEC to be created without easy detection. Shielded Labs pushed an emergency fix before the issue became public.
Hornby later said he would review Monero and other privacy coins. When asked on X if he would look at Monero, he replied, “Absolutely! I’ll add Monero to my queue of things to audit.”
The audit plan creates a mixed signal for the market. A clean review could support confidence in Monero’s design, while any discovered weakness could create volatility.
That is why traders may treat the audit update as a watchpoint rather than a simple bullish event. Privacy coins depend heavily on user trust in their cryptography and transaction design.
XMR technical indicators improve, but $400 remains key
The XMR/USDT daily chart shows price moving back toward the major downtrend line. A daily close above the trendline and the $360 to $400 area would support the breakout case.
The $380 to $400 zone is the next key resistance. XMR must clear that region before buyers can claim stronger control.
The demand zone near $300 to $320 remains the main support area. As long as XMR holds above that range, the recovery structure stays active.
A drop below $300 would weaken the setup. It would also suggest that the latest rally was only a short-term bounce from oversold levels.
The RSI sits near 50.03, while its average line is around 42.81. This shows momentum has improved from the recent weak zone and has returned to neutral.
For stronger confirmation, RSI needs to hold above 50 and move toward 60. That would show buyers are gaining clearer momentum.
The MACD remains below the zero line, with the MACD line near -15.86 and the signal line around -14.98. This means the wider momentum picture is still weak.
However, the histogram is narrowing. That suggests bearish pressure is slowing, even though the trend has not fully flipped bullish.
Volume sits near 6.56K XMR on the chart. It supports the bounce, but it does not yet show the kind of strong demand normally seen during major breakouts.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
