XMR wallet verification proposal | Review approval does not mean launch | I’ll wait for above 645 before reassessing
My stance is to watch cautiously and not chase XMR for now. First, the information sources: this round, neither Binance Square’s trending topics nor its most-searched list had rising tags directly related to XMR. I also found no verifiable new XMR announcements on Binance News, Research, or OTC, so I won’t borrow unrelated hype. There is one development worth noting in Monero’s official code repository: PR #11665, submitted on November 2, proposes having the wallet confirm the checkpoint anchor with a node during fast recovery before deciding whether to skip block hashes. The submitter found on a test chain that if the node does not recognize the checkpoint used by the wallet, the existing process may scan block by block from the checkpoint height, resulting in a recovery path that differs from what was expected. Maintainers’ discussion on November 3 clarified the issue’s scope and also noted that another idea, to “shrink the wallet hash cache,” would be a separate follow-up change.
The status is the easiest thing to misread here. The PR page is still Open. Although a reviewer has approved it, it has not been merged or included in an official release. The official CLI and GUI versions currently listed on Monero’s website are still version 0.18.5.4, released on October 16. This change concerns node-anchor confirmation and scan efficiency during wallet recovery; it does not mean that Monero’s mainnet has been compromised, nor that the privacy protocol was upgraded today. Describing a code review as a positive development that has already gone live, or exaggerating a test-chain recovery issue into a loss of user funds, is not supported by the available evidence.
Why should traders still pay attention? The cost of using privacy coins is not just about price. Wallet recovery reliability, node trust boundaries, and exchange deposit and withdrawal channels can affect whether users can move and verify their assets in time. FATF recently launched a targeted review of how virtual asset service providers are implementing its standards, but its announcement did not name XMR; I view this as background on industry channels, not as grounds to infer an XMR-specific ban. Binance’s recovery from security incidents is also still proceeding in stages by asset and network, so an announcement from one exchange cannot be used to infer the real-time trading or withdrawal status of a particular XMR market. If channels tighten, liquidity and slippage may affect trading outcomes before chart signals do.
On price, I just checked Kraken’s XMR spot price at about $642.70, with an open of $630.00, a low of $622.94, and a high of $645.00 today. The rebound is nearing the day’s high, but there is no evidence that it was driven by this wallet PR; it could simply reflect a shift in risk appetite across the crypto market. My upside confirmation level is 645, with 630 as the first pullback level to watch, followed by 622.94. If the hourly chart breaks above 645 and quickly falls back to 630, the short-term bullish view is invalidated; if it loses 622.94, today’s rebound structure fails.
If I were trading this myself, I would stay out for now. The only direction I’d consider is a small, unleveraged spot long. I’d wait for an hourly close above 645, a pullback that holds 642, and confirmation that XMR spot depth and deposit and withdrawal channels are operating normally on the platform I use. Only then would I enter in two tranches, with a maximum of 2% of my total capital. The first target is $660 and the second is $675; I’d take half off at 660 and move the stop on the remaining position up to around my entry price. I’d set the initial stop below 629 and close the entire position if a pullback breaks below 630. I’d also exit immediately if a new security issue emerges from the code review or if channel disruptions occur. If the conditions are not met, I’ll stay flat; a plan is not a trade.
#XMR
The above is solely my personal market observation and does not constitute investment advice.
My stance is to watch cautiously and not chase XMR for now. First, the information sources: this round, neither Binance Square’s trending topics nor its most-searched list had rising tags directly related to XMR. I also found no verifiable new XMR announcements on Binance News, Research, or OTC, so I won’t borrow unrelated hype. There is one development worth noting in Monero’s official code repository: PR #11665, submitted on November 2, proposes having the wallet confirm the checkpoint anchor with a node during fast recovery before deciding whether to skip block hashes. The submitter found on a test chain that if the node does not recognize the checkpoint used by the wallet, the existing process may scan block by block from the checkpoint height, resulting in a recovery path that differs from what was expected. Maintainers’ discussion on November 3 clarified the issue’s scope and also noted that another idea, to “shrink the wallet hash cache,” would be a separate follow-up change.
The status is the easiest thing to misread here. The PR page is still Open. Although a reviewer has approved it, it has not been merged or included in an official release. The official CLI and GUI versions currently listed on Monero’s website are still version 0.18.5.4, released on October 16. This change concerns node-anchor confirmation and scan efficiency during wallet recovery; it does not mean that Monero’s mainnet has been compromised, nor that the privacy protocol was upgraded today. Describing a code review as a positive development that has already gone live, or exaggerating a test-chain recovery issue into a loss of user funds, is not supported by the available evidence.
Why should traders still pay attention? The cost of using privacy coins is not just about price. Wallet recovery reliability, node trust boundaries, and exchange deposit and withdrawal channels can affect whether users can move and verify their assets in time. FATF recently launched a targeted review of how virtual asset service providers are implementing its standards, but its announcement did not name XMR; I view this as background on industry channels, not as grounds to infer an XMR-specific ban. Binance’s recovery from security incidents is also still proceeding in stages by asset and network, so an announcement from one exchange cannot be used to infer the real-time trading or withdrawal status of a particular XMR market. If channels tighten, liquidity and slippage may affect trading outcomes before chart signals do.
On price, I just checked Kraken’s XMR spot price at about $642.70, with an open of $630.00, a low of $622.94, and a high of $645.00 today. The rebound is nearing the day’s high, but there is no evidence that it was driven by this wallet PR; it could simply reflect a shift in risk appetite across the crypto market. My upside confirmation level is 645, with 630 as the first pullback level to watch, followed by 622.94. If the hourly chart breaks above 645 and quickly falls back to 630, the short-term bullish view is invalidated; if it loses 622.94, today’s rebound structure fails.
If I were trading this myself, I would stay out for now. The only direction I’d consider is a small, unleveraged spot long. I’d wait for an hourly close above 645, a pullback that holds 642, and confirmation that XMR spot depth and deposit and withdrawal channels are operating normally on the platform I use. Only then would I enter in two tranches, with a maximum of 2% of my total capital. The first target is $660 and the second is $675; I’d take half off at 660 and move the stop on the remaining position up to around my entry price. I’d set the initial stop below 629 and close the entire position if a pullback breaks below 630. I’d also exit immediately if a new security issue emerges from the code review or if channel disruptions occur. If the conditions are not met, I’ll stay flat; a plan is not a trade.
#XMR
The above is solely my personal market observation and does not constitute investment advice.
