+7.77% for Monero as price tests $390.96 ceiling

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Monero jumps 7.77% after BSP ban

Highlights

The Philippines' central bank mandated regulated platforms to delist privacy coins like Monero and Zcash, aligning with global anti-money laundering crackdowns.
This regulatory move increases compliance obligations for local exchanges, constraining access to privacy-focused cryptocurrencies and tightening trading oversight.
XMR/USD shows short-term bullish momentum with overbought signals; consolidation expected between $341.90 and $390.96 over the next 1–2 days.

Regulatory delisting pressures rise as Philippine central bank bans privacy coins

The Bangko Sentral ng Pilipinas has introduced a ban prohibiting regulated virtual asset service providers in the Philippines from listing or supporting privacy-focused cryptocurrencies such as Monero. According to official documentation, this regulatory action, enacted under Memorandum M-2026-023 on June 5, 2026, increases compliance burdens for local exchanges, effectively forcing them to delist privacy coins like Monero and Zcash. By tightening anti-money laundering controls, the measures constrain access to Monero on regulated platforms and raise the regulatory bar for trading activity. This move aligns with similar measures already implemented in Japan, South Korea, and the European Union, highlighting an expanding global focus on restricting privacy coin trading.

Bullish signals persist as momentum wanes near resistance zone

On the H1 timeframe, XMR/USD trades above the MA-20 at $342.14 and MA-50 at $340.88, but remains below the MA-200 at $391.28. The Ichimoku Kijun sits at $345.43, acting as immediate support, with resistance defined near $390.96. RSI is at 66.14, suggesting upward momentum, while MACD and the Awesome Oscillator both confirm bullish signals. However, Stoch RSI, CCI, and BBP point to overbought conditions and dominant buyer pressure, while a neutral ADX reading indicates the current trend may lack conviction. Intraday action shows price closing near the session high with minimal gap, but the presence of several overbought oscillators raises the risk of short-term exhaustion.

Upside bias holds as breakout and pullback risks diverge

Looking ahead over the next 1–2 trading days, XMR/USD is expected to consolidate within a typical volatility band between $341.90 and $390.96. There is a 78% probability of an upward move, while the downward scenario is less likely at 22%. If the price breaks above resistance at $390.96, further rallies may unfold; conversely, a drop below $341.90 could trigger renewed selling toward lower support levels.

Viktoras Karapetjanc, analyst at Traders Union, sees Monero’s technical setup as bullish in the short term, with momentum favoring the upside despite local overbought signals. He believes that the BSP’s ban underscores rising regulatory pressure, which may weigh on demand in regulated markets but also highlights the asset’s global relevance. The analyst notes that strong resistance at $390.96 will be key for further upside, while consolidation is likely given mixed momentum signals. "Monero demonstrates resilient buyer interest, but traders should watch for signs of exhaustion and be mindful of shifting regulatory landscapes."

Earlier, analysts noted that Monero faced persistent bearish pressure amid liquidity concerns and heightened regulatory scrutiny following suspicious inflows. The latest regulatory ban in the Philippines adds a structural challenge for Monero and signals that traders should monitor for increased volatility as privacy coin restrictions expand throughout Asia.

Source of Data: XMR Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.