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XMR adopts the CryptoNote protocol architecture and is not a Bitcoin derivative. The name is derived from the Esperanto word "Monero," which means "currency."
Recently, observing the on-chain movements of XMR, it is quite evident that funds are continuously flowing in. From a candlestick perspective, the overall trend is forming an upward trapezoid, with a steady rhythm. On the market chart, there are already bullish forces being deployed, and this orderly rise seems less like retail behavior and more like planned capital pushing the price.
Based on the current trend, there may be room for a doubling in the upper direction, but risks should also be prepared for—stop-loss can be set at the support level of the most recent trapezoid's bottom.
Continue to monitor the subsequent performance of the privacy coin sector. Recently, market attention to the privacy narrative has indeed been heating up. Coupled with macro factors such as the US non-farm payroll data falling below expectations, there is a high possibility that large funds are quietly positioning in these "hedge" concept coins.