Key Takeaways:
XMR rose 5% to near $395 on Aug. 10, extending a 10% weekly gain as a whale wallet opened a $14.33M 4x long targeting $475–$516.
The newly created wallet deposited approximately $3.56 million in USDC before opening the leveraged position on 36,000 XMR, according to on-chain data. The take-profit targets sit directly around Monero's next major resistance area, meaning the whale's exit plan aligns with the technical supply zone traders are watching.
XMR broke above a descending trendline that had capped its recovery attempts in recent weeks. After finding demand around $350–$365, the token pushed back above its key moving-average cluster. The latest 5% move brought price toward the psychological $400 level, a threshold that has historically acted as a pivot point for Monero.
The next major resistance sits around $480–$520, creating a potential 21%–31% upside from the current level. A move to the psychological $500 mark would represent roughly 26% upside. A decisive breakout above $520 would confirm that sellers have been absorbed and could open the door to a broader bullish expansion, potentially attracting fresh capital to the privacy-focused sector.
Holding above $390–$400 would strengthen the breakout and put $440–$450 in focus as the first major upside target. From the current $395 area, a move to $450 would represent approximately 14% upside. A sustained move above $450 would then bring the whale's $475–$516 target range into play, creating a confluence of technical and on-chain signals pointing toward the same price zone. This alignment between whale positioning and technical levels is rare and could attract additional momentum traders.
The leveraged position adds a layer of risk to the setup. A 4x long of this size could create cascading liquidation pressure if XMR moves against the position, potentially increasing volatility. Monero's order books are thinner than those of major assets like Bitcoin, making the token more susceptible to sharp moves from concentrated positions. Traders should watch liquidation levels closely as XMR approaches the $400 decision point, where a rejection could trigger a rapid unwind of leveraged longs.
If XMR gets rejected around $400 and loses the breakout zone, the recovery could lose momentum and expose $365 as the next major support. Bitcoin's dominance trend and broader altcoin flows will also influence whether XMR can sustain its move, as capital rotation between BTC and privacy-focused tokens often tracks risk appetite across the sector. Monero's position as the largest privacy coin by market capitalization gives it a distinct investor base compared with peers like Zcash, but it remains sensitive to the same macro forces driving the broader crypto market. The next few trading sessions will determine whether the whale's bet pays off or whether the $400 level becomes a ceiling rather than a springboard.
This article is for informational purposes only and does not constitute investment advice.
