Monero Hits $598 All-Time High as Trader Compares Move to Silver Breakout

Beincrypto reports Monero (XMR) has set a new all-time high after reaching $598, and its market capitalization has topped $10 billion for the first time. Price data showed on January 12 that XMR had surged more than 30% since the previous Saturday, trading above $585 with market capitalization exceeding $10.7 billion.

Trading volume climbed above $300 million, the highest level in the past month, and the token moved above the previous cycle high of $515. Analyst 0xMarioNawfal said: “Price continues to trend aggressively higher. It is breaking through previous resistance levels with strong momentum and minimal pullback.” Veteran trader Peter Brandt compared XMR’s monthly chart to silver’s quarterly breakout, noting both showed two major peaks that formed a long-term resistance trendline and that silver later printed a powerful “god candle.” XMR dominance has risen to its highest level since 2023, a combination the coverage says could signal further upside as capital rotates from other altcoins.

A recent report highlighted drivers that could help Monero outperform in 2026, including rising demand for privacy amid tighter tax enforcement and shifting investor confidence after issues with Zcash holders.

Key Topics

Crypto, Monero, Peter Brandt, Silver, Tether, Tron