11628

XMR Returns to Around $600 | Wallet-Recovery Safeguard Proposal Under Review | Don’t Treat Code Discussions as Upgrade Bullishness

My stance is to watch for now, not chase a rally based on a single wallet-fix proposal. On October 27, a PR, #11628, appeared in Monero’s official code repository. The author proposes that when a node returns a wallet starting height that exceeds the range of the existing hash chain, the wallet should try to retrieve block hashes from the node again. If the reconstruction is interrupted or throws an error midway, a subsequent save could write an incomplete chain state to the wallet file. The proposal would preserve the original chain until reconstruction succeeds, restore the original state if it fails, and add regression tests to verify that the original chain remains intact after an interrupted reconstruction, save, and reopen. The PR is still marked Open; it has not been merged, much less released as a new version. Monero’s latest official release remains version 0.18.5.4, from October 16.

This affects wallet reliability and user experience; it does not mean the privacy protocol has suddenly changed, nor does it confirm an incident on the mainnet. If a wallet’s recorded scan progress is wrong, users may need to resync or verify their balance, increasing the cost of maintaining trust. If the fix passes review and is delivered in a future official release, it could reduce operational risk in this kind of edge case. But a PR under review cannot establish the scope of any issue, the number of affected users, or any on-chain loss of funds—much less justify inferring an immediate increase in demand for XMR. I’ll keep watching the review comments, merge record, and official release notes before deciding whether there is any actionable new information.

The market itself is already volatile. At the time of writing, XMR/USD was around $599.61 on Kraken, with a UTC open of $597 and a rolling 24-hour low of $584.8 and high of $611.77. It has rebounded from the low and is approaching the psychologically significant $600 level, but there is no evidence that the rise was driven by this PR. If it only briefly spikes above $600, the breakout won’t be convincing; around $612 is the next resistance level. I’m watching $590 as short-term support and $585 as the risk boundary. The broader market is also waiting for the Fed’s October 27–28 policy decision, and macro volatility could overshadow wallet-development news.

If I were trading this myself, I would stay out for now. The only direction I’d consider is a small spot position to test a momentum long, with no leverage. The entry trigger would be a one-hour close holding above $603, followed by a retest of $600 that holds. I’d buy in two tranches, using no more than 2.5% of my total capital. I’d take half off at the first target of $612, then close the rest at the second target of $625. If, after entry, the one-hour candle closes below $592, I’d stop out and exit. If price breaks below $585 first, I’d cancel this long setup outright. I’d also scrap the plan if the PR review uncovers broader risks or the Fed decision triggers a sharp market-wide sell-off, and wait for new facts and price action to confirm the situation again. Without a trigger, the plan is simply to wait; it must not be presented as a trade that has already been executed.

#XMR
The above is solely my personal market observation and does not constitute investment advice.