Monero Tests $600 as Positive Funding Signals Long-Side Demand

XMR reached $606.02 before retreating toward $592.70. Derivatives open interest rose 4.82% to $174.8 million. Positive Hyperliquid funding shows longs paying shorts. FCMP++ testing and regulatory developments provide broader context. Monero’s latest advance is testing whether buyers can sustain prices above $600 while derivatives traders increase their exposure and incur the costs associated with leveraged long positions. XMR reached an intraday high of $606.02 on October 19 before retreating to $592.70. The move followed a sustained recovery from approximately $350 in early August, leaving Monero nearly 70% higher over roughly two and a half months.

Source: ETHNews