Kraken Exchange will delist Monero (XMR) in the European Economic Area. The move comes before October's end as regulatory pressure increases and privacy coins face mounting challenges.
XMR price fell below $150 on the news: it dropped over 10% after Kraken's announcement. The coin now trades around $144.50. Key support levels lie at $150 and $155.
Lower levels near $135 may be tested with some technical indicators suggest potential recovery. While the MACD shows a slight bearish trend, the RSI indicates room for upward movement. Overall market sentiment remains cautious as selling pressure has increased. Monero's market cap stands at $2.58 billion.
The delisting reflects broader regulatory concerns. Authorities worry about privacy coins' potential illicit use so exchanges face pressure to reevaluate support for such assets. Monero's privacy features include stealth addresses and ring signatures. These appeal to users valuing transaction anonymity, but the regulators fear potential misuse of these same features.
The coin now faces a dilemma - it must balance privacy commitments with compliance needs. As major exchanges withdraw support, Monero's path forward is unclear.
Market observers offer differing price forecasts. Some see potential recovery by mid-2026, assuming regulatory hurdles are overcome. Adoption would need to continue rising.
Others remain skeptical. They believe XMR may struggle without significant changes, regulatory clarity or shifts in market sentiment could prove crucial.
Monero's future hangs in the balance. The coming months may determine its long-term viability in an increasingly regulated crypto landscape.