Key Insights:
- Monero price trades above $300 despite a record reorganization of 18 blocks, nullifying 118 confirmed transactions.
- Qubic momentarily controlled over 51% of Monero’s hashrate, triggering the chain rollback.
- Technical indicators show a high momentum, and analysts indicate a possible XMR breakout.
Monero price surged despite the largest reorganization of the network in its history. On September 14, the privacy-focused cryptocurrency experienced an 18-block reorganization lasting about 43 minutes.
Despite disruption, Monero (XMR) increased approximately 6% over 24 hours, trading around $300, and exhibited consistent momentum from recent weekly gains.
Monero Price Stays Above $300 Despite 18-Block Chain Reorganization
In the latest crypto news, Monero suffered an 18-block reorganization, which nullified approximately 118 previously confirmed transactions. This event occurred between the block heights of 3,499,659 and 3,499,676, and 36 minutes of chain history were rewritten. Consequently, this was the biggest rearrangement of the network since its launch.
The event happened after the Qubic mining pool temporarily gained more than 51% of Monero’s total hashrate. This interim concentration allowed Qubic to surpass other pools and force the chain rollback.
Despite these network concerns, Monero’s spot trading volume surged 25% to about $87.5 million, while derivatives volumes jumped 68% to $61.5 million, according to Coinglass.
Monero price soared to $308 and stabilized close to $300. Open interest increased by 5.6% to $44.5 million, indicating increased short-term participation in the market.
Monero (XMR) price has steadily increased by 10% during the week and 27% in the past month.
Qubic Mining Pool’s Role and Network Security Response
Analysts stated that Qubic managed to dominate more than half of the Monero computational power, which led to the reorganization of 18 blocks. A previous six-block reorganization in August had raised concerns about mining centralization under Monero’s RandomX proof-of-work algorithm.
Blockchain security researchers now recommend that users wait for 20 or more transaction confirmations to ensure finality. This is more than the usual 10 confirmations before the incident on September 14.
Also, developers are testing new tools like DNS checkpointing to inhibit such disruptions; however, they are still under consideration.
Meanwhile, the Monero developer community is investigating ways to reduce reorganization risk while preserving decentralization. Network observers stress that any security update must balance short-term protection with Monero’s long-term principles of distributed control.
Monero Price Technical Analysis and Market Activity
Monero’s ability to sustain a balanced price through the network event shows strong interest in the market. Technical charts showed that the token is above major moving averages, with both 50-day and 200-day trends demonstrating bullish direction.
In addition, the Parabolic SAR of the Monero 4-hour chart depicted an upward trend. The blue dotted indicators are placed below the candlesticks, verifying the sustained bullish momentum.
As long as the SAR dots are below the XMR price, then the pre to buy dominates and the uptrend will persist. The level is around $294.96, making this a near-term trailing support.
Moreover, the MACD line trades well above the signal line, showing positive continuous momentum. Histogram bars were positive, indicating a positive buying pressure and increasing participation in the market.
Therefore, Monero’s market performance implied that investors have confidence in it despite its security concerns. Should the support level of $300 be met, analysts consider a prolonged action above $310 to be the gateway to $320 or more. However, XMR’s price decline to less than $290 might lead to a bearish correction.
In line with bullish price action, another analyst indicated that the XMR price might rise to $580 if the existing momentum persists. The daily pattern chart presented a symmetrical triangle, which showed continued buying power.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.
