11735

XMR development review makes progress｜FCMP++ fix still awaiting merge｜Price weakens; stay disciplined

My stance is cautious and somewhat bearish, but I’m watching rather than treating a code review issue as an incident that has already occurred on mainnet. On November 12, the official Monero code repository saw PR #11735, titled as a fix for a problem where thread input in FCMP++-related functions was used after being freed. The page currently shows it as Open and pending review, with two reviewers having indicated approval. This means the proposed fix has received some recognition in code review; it does not mean it has been merged, much less deployed in an official wallet or on mainnet. The latest version currently visible on the official releases page is still v0.18.5.4, dated October 17. The appearance of wording such as “use-after-free” in a post does not justify concluding that users have lost funds, privacy has been compromised, or the chain has stalled; so far, I have not seen any such conclusion from official sources.

This is worth watching because FCMP++ relates to Monero’s future privacy upgrade path, and the quality of the underlying implementation, review, and testing can affect the upgrade timeline and market confidence. But between a PR awaiting merge and a release-ready version lie further review, integration, testing, and deployment. In the short term, price is more likely to be driven by overall risk appetite and changes to trading access than by this one code commit. Another confirmed fact is that MEXC has announced plans to suspend XMR spot trading at 09:00 UTC on November 13, around 17:00 Beijing time; that time has not yet arrived. This is an adjustment to access at a single exchange, not a sign that the Monero network is stopping. Anyone whose account is affected by that platform’s rules should follow its official withdrawal arrangements, rather than chasing prices across platforms based on rumors.

The market reaction has been muted. At around 10:43 Beijing time, XMR/USD on Kraken was about $538.61, with a 24-hour opening reference of $551.53 and a range of $533.03 to $576.86. The price is near the low end of the range, indicating that even as the development review progresses, spot trading has not provided clear confirmation of an upward move. I’m treating around $533 as a short-term risk level and $550 as the first hurdle to reclaim; if the price breaks below $533 and a rebound fails to get back above it, the likelihood of further downside will increase. Conversely, I would have more confidence in a rebound only if order books on major trading venues remain stable around the MEXC suspension, XMR regains and holds $550, and the code PR advances through merge and testing. A code merge does not directly mean the price will rise.

If I were trading this myself: I would stay out for now and consider only a small spot long after confirmation, with no high-leverage contracts. The trigger would be two consecutive one-hour Kraken XMR/USD candles closing above $550, followed by a pullback that holds at $547. I would use no more than 2% of my total capital and would not increase my position because of a “future upgrade.” The first target is $560, where I would reduce the position by half; the second is $575, where I would close the remainder either at the target or if the one-hour structure weakens. I would set a stop below $542 and execute it if a one-hour candle closes below that level. If the price first breaks below $533, the entire long plan is invalidated and I would wait again; if there is only PR discussion without price confirmation, I remain flat. In my review, I will count only actual triggers and fills, not turn hypothetical scenarios into gains.

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