Crypto News Today: Monero Surges Over 40% as XRP Leads Crypto Majors Gains

XMR Trading Volumes Quadruple Amid Broader Cautious Bullish SentimentMonero (XMR) emerged as the standout performer in a largely flat crypto market on Monday, soaring more than 40% in the past 24 hours. The surge pushed XMR prices above $320, a level not seen since May 2021, with trading volumes jumping from an average of $50 million to over $220 million.The broader crypto market remained stable during Asian morning hours. Bitcoin (BTC) traded slightly lower, holding above $93,000, while the CoinDesk 20 Index, which tracks the performance of major cryptocurrencies, stayed relatively flat.Key Market HighlightsMonero (XMR) surged over 40% with no confirmed catalyst, according to analysts at Presto.XRP led gains among major cryptocurrencies, climbing 4% following news of ProShares ETF approvals set to launch three XRP futures-based products on April 30.Cardano (ADA), BNB Chain’s BNB, and Ethereum (ETH) posted gains between 1% and 3%.Overall crypto sentiment remains cautiously bullish, despite ongoing macroeconomic uncertainties.Analysts Weigh In: XMR Rally Likely SpeculativeDespite the sharp rally in XMR, analysts suggested the move may be driven more by speculative trading rather than fundamental network growth."There appears to be no clear catalyst behind XMR’s recent rally," said Min Junng, a research analyst at Presto, noting that network activity remains consistent with typical levels.Monero is a privacy-focused cryptocurrency based on the CryptoNote protocol, ensuring that transactions are unlinkable and untraceable — factors that often draw speculative interest during volatile periods.Bitcoin Holds Steady as Crypto Decouples From EquitiesBitcoin continued to maintain a relatively stable trading range above $92,000. Some analysts attribute Bitcoin's resilience to the softer policy stance of the Trump administration regarding tariffs and crypto industry regulations."This crypto-friendly attitude can boost Bitcoin and other cryptocurrencies to develop their own market direction, less correlated with US equities," said Jupiter Zheng, Partner and Research Head at HashKey Capital.Meanwhile, broader global markets were mixed:A regional equity gauge advanced 0.6%.S&P 500 futures declined 0.6%, indicating a potential end to the four-day U.S. equity rally.Gold pared gains after reaching record highs last week.Hong Kong’s Hang Seng Index remained flat.