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- Over 51% of Monero’s mining power now controlled by Qubic, pressuring XMR price.
- Technical indicators suggest continued bearish momentum, but a short-term bounce is possible.
- Key price targets: downside $162.53, potential upside $311.31 if mining power shifts.
Monero (XMR), once a strong contender in the altcoin market, has suffered a major setback. Over half of its mining power recently shifted to decentralized network Qubic, leaving the privacy-focused coin exposed. The immediate impact was a sharp decline in XMR’s price, hitting its lowest level since April 28.
The shift of miners to Qubic is largely driven by profitability. Qubic incentivizes miners with distributed rewards that were previously “burned,” attracting a surge of new participants. As Qubic now controls over 51% of Monero’s mining power, XMR faces heightened selling pressure and reduced network security.
Qubic Mining Profitability Report Epoch 173!
— Qubic (@_Qubic_) August 14, 2025
The profitability of mining $QUBIC over $XMR is soaring.
Overall network keeps seeing high inflow of new miners. Distributing otherwise burned funds to miners as rewards was a success.⏬ pic.twitter.com/QdbxZDtJNN
Technical Indicators Signal Continued Downtrend
XMR’s charts have reflected the turmoil. Over the past six days, the token has logged consecutive daily losses, forming a clear descending channel. The Moving Average Convergence Divergence (MACD) recently triggered a bearish crossover, highlighting persistent downward momentum.
Meanwhile, the Relative Strength Index (RSI) has plunged to 21.27, deep into oversold territory. While such extreme levels may hint at a potential short-term rebound as traders seek “buy-the-dip” opportunities, the lack of broader market support suggests any bounce could be limited.
The daily Supertrend and Chaikin Money Flow (CMF) indicators further reinforce the bearish outlook. The red Supertrend line sits above the price, signaling seller dominance, while CMF falling below zero confirms outflows and weak buying interest.
Also Read: Monero Hit by 60 Orphaned Blocks as Qubic Claims Successful 51% Attack
XMR Price Outlook: Bears in Control
If the current trend persists, XMR risks falling below the $200 mark, potentially targeting $162.53 — a new yearly low. However, if Monero manages to regain some mining power, increased demand could push XMR toward $262.28, with a further bullish surge possibly reaching $311.31.
For traders, the next few weeks will be crucial. Monitoring mining activity and network health could provide early warnings of either recovery or further declines in XMR’s price.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
