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XMR is currently down to $613, which is not a sign of declining good news, but rather a liquidation phase after an earlier rally. From market trends, it seems that the main players are using various market noises (such as policy uncertainties related to Dubai) to conduct deep washout operations, while quietly accumulating new long positions through derivative tools like Hyperliquid.
From a technical perspective, as long as XMR can hold steady at the $580-600 range in late January, with the upcoming implementation of South Korea's policies in February and increased enthusiasm for derivative trading, the price is expected to target the $880-1040 range. In terms of market rhythm, the current pullback appears more like a consolidation before a buildup rather than a trend reversal.