Monero Extends 20% Weekly Rally as Analysts Eye $1,000 Target - Crypto Economy

Monero (XMR) extended its weekly rally by about 20%, with early readings showing the token just under $650 before later trading around $630.66. Analysts pointed to $750 and $1,000 as possible technical targets, but said both would require breakout confirmation and sustained demand. The rise followed the release of Monero GUI v0.18.5.4, “Fluorine Fermi,” which reopened testnet and stagenet wallets and included bug fixes, though the article notes price action alone can’t prove the software update caused the move. XMR pushed through a $630–$640 resistance zone. Short-term signals remain mixed: RSI near 70, exchange inflow/outflow data showing more inflows than outflows, and dispute over open-interest claims—Santiment said it closed Oct. 20 near $198 million.