Monero Hits $371 as Cup-and-Handle Formation Takes Shape

Monero's price has been making headlines due to its cup-and-handle neckline formation, which targets $427. However, this potential rally may be hindered by regulatory risks, including the EU's upcoming ban on privacy coins in July 2027.

The XMR price has been on a steady rise since August 6, when Cuprate node client and Serai DEX code were shipped. This development led to a 2.6% gain for Monero that day.

However, the fact remains that 73 exchanges have already delisted XMR, raising concerns about liquidity and adoption. As the EU's MiCA privacy-coin ban takes effect in July 2027, it is unclear whether Monero will be able to overcome these regulatory hurdles.