Key takeaways Monero gains 3% despite broader cryptocurrency weakness Privacy coins maintain relative strength against Bitcoin Breaking $650 could open another bullish extension Monero (XMR)
Monero (XMR) climbed more than 3% on November 3, approaching $625 as privacy-focused cryptocurrencies continued attracting attention despite Bitcoin's renewed decline below $77,000.
XMR traded near $626 during the session, gaining approximately 3.6% over 24 hours, with trading volume around $140 million. Bitcoin, meanwhile, struggled near $76,800 after losing its recent recovery momentum.
<iframe src=”https://widgets.coincodex.com/w/8af742a4-225e-42b1-82d6-19ac3a14e66f?site=coinpaper&mode=light” width=”100%” height=”420” frameborder=”0” referrerpolicy=”no-referrer-when-downgrade” style=”border:0;background:transparent;border-radius:0px;”></iframe>The divergence extends a broader privacy sector rally that has seen Monero and several competing cryptocurrencies outperform much of the market during 2026.
Monero Rises as Bitcoin and Altcoins Face Selling PressureMonero's recovery follows a volatile October in which XMR briefly approached $650 before retreating toward $575 during the broader cryptocurrency correction.
The token subsequently recovered above $600, defending a level that previously acted as major resistance.
Its resilience contrasts with Bitcoin's latest weakness, where institutional withdrawals have intensified concerns about liquidity and further downside.
Privacy-focused cryptocurrencies have shown strength over a longer period.
Earlier Glassnode research found that the privacy sector had substantially outperformed the median major altcoin, with Monero and Dash contributing to gains beyond Zcash's exceptional rally.
However, sector-wide historical outperformance does not establish that every privacy token advanced on November 3.
The renewed interest follows an earlier Monero breakout, when veteran trader Peter Brandt highlighted XMR's favorable technical structure relative to other major cryptocurrencies.
Monero Price Prediction: $650 Breakout Could Target $700Monero's immediate resistance sits near $630, followed by the $645-$650 region tested repeatedly during October.
A sustained breakout above $650 could strengthen bullish momentum and expose $680, with $700 representing a more ambitious extension.
That scenario would require continued demand rather than relying on the current 3% rally alone.
The token previously experienced sharp reversals during the September correction, demonstrating that privacy-sector strength does not eliminate downside risk.
On the bearish side, $600 remains the first important psychological support.
Losing that level could expose $575, followed by a deeper demand zone around $540–$550.
These levels represent technical scenarios rather than guaranteed price targets.
Privacy Upgrade Adds Longer-Term Interest to XMRMonero developers are also testing FCMP++ and Carrot, proposed upgrades intended to strengthen transaction privacy and wallet functionality.
The project's third beta stressnet underwent its scheduled October 5 fork, followed by additional software improvements later that month.
However, the upgrade remains in testing and has no confirmed mainnet activation date.
The development offers longer-term context for Monero's investment narrative, although there is no verified evidence connecting the upgrade directly to November 3's rally.
Meanwhile, the wider privacy market remains vulnerable to leverage-driven reversals, as demonstrated by earlier Zcash liquidations.
