XRP Leads Crypto Gains as Monero Surges 40% Amid Mixed Market Sentiment

XRP led gains among major cryptocurrencies with a 4% jump over the past 24 hours, driven by ProShares’ approval to launch three XRP futures ETFs on April 30. Cardano’s ADA, BNB Chain’s BNB, and Ethereum (ETH) also posted modest gains between 1% and 3%.

Meanwhile, Monero (XMR) defied the broader market trend, soaring over 40% in the past day. XMR traded above $320 during Monday’s Asian hours, marking its highest level since May 2021. Trading volumes exploded from a seven-day average of $50 million to over $220 million in the past 24 hours. Analysts noted the rally lacked a clear catalyst, suggesting speculative trading fueled the surge. Monero, a privacy-focused token built on the CryptoNote protocol, ensures transactions remain untraceable and unlinkable.

Market sentiment remains cautiously optimistic following last week’s developments. Bitcoin has stayed relatively stable above $92,000 as the Trump administration signaled a softer stance on crypto-related tariffs. This pro-crypto environment could strengthen Bitcoin’s independence from traditional equities and support broader industry growth, said Jupiter Zheng, Partner at Liquid Fund and Research at HashKey Capital.

Global equities were mixed on Monday. A regional Asia-Pacific index rose 0.6%, while S&P 500 futures slipped 0.6%, signaling a possible end to the U.S. stock market’s four-day rally. Gold prices also retreated after reaching record highs last week, and Hong Kong’s Hang Seng Index remained flat alongside other major Asian benchmarks.