Monero (XMR) posted a sharp move on June 11, rising more than 10% in 24 hours and pushing back above $350. According to crypto.news market data, XMR traded around $351 to $354, with an intraday range of $308.46 to $355.88. Daily volume stood near $142.36 million, while market capitalization was about $6.59 billion.
The rally followed two fresh developments. Cake Wallet expanded Monero support through FOUNDATION’s Passport Prime hardware wallet, and security engineer Taylor Hornby said Monero would be added to his audit queue. Price reacted quickly, and market attention shifted back to privacy-coin custody and protocol security.
Passport Prime integration strengthens the self-custody angle
Cake Wallet’s move matters because Monero users often place heavy weight on self-custody. A hardware wallet gives holders a way to keep assets away from centralized venues. That theme has carried more importance after exchange delistings reduced access to XMR in several markets.
The source notes that Binance previously removed XMR over compliance concerns, while other exchanges also limited support for privacy coins. When those routes narrow, users tend to rely more on wallets and peer-to-peer tools. The Passport Prime integration does not change the broader market structure on its own, but it does add another storage option for existing XMR holders.
Audit attention puts security back in focus
The second catalyst came from Taylor Hornby. The report says Hornby previously found a critical flaw in Zcash’s Orchard privacy pool, a bug that had reportedly gone undetected since May 2022. In theory, that weakness could have allowed counterfeit ZEC to be created without easy detection before Shielded Labs issued an emergency fix.
Later, Hornby said he would review Monero and other privacy coins. Asked on X whether he would look at Monero, he replied, “Absolutely! I’ll add Monero to my queue of things to audit.” Traders are not treating that as a simple bullish signal. A clean review could improve confidence in Monero’s design, while any weakness discovered during the process could trigger volatility.
Momentum improves, but $400 is still the key barrier
On the daily chart, XMR is recovering after a steep correction from its January spike toward $800. Price remains above the recent demand zone around $266 to $320, even though the token is still down 13.25% over the past month. The latest rebound has pushed XMR back toward a descending trendline that has capped advances for months.
The market is now focused on the broader $360 to $400 area rather than just the move above $350. Within that range, $380 to $400 stands out as the next major resistance zone. A daily close above the trendline and that band would strengthen the breakout case. If XMR falls back below $300, the setup would weaken and the latest move would look more like a short-term oversold bounce.
Momentum indicators have improved, though they are not fully bullish yet. RSI sits near 50.03, with its average line around 42.81, showing a return to neutral conditions after a weaker stretch. MACD remains below the zero line, with the MACD line near -15.86 and the signal line around -14.98. The histogram is narrowing, which points to fading bearish pressure. Chart volume was about 6.56K XMR, enough to support the rebound, but not the kind of strong surge usually seen in a decisive breakout.