Monero (XMR) Price: Token Smashes All Time-High as Privacy Sector Gains Momentum

TLDR

• Monero (XMR) reached a new all-time high of $579, rising over 20% in one day as traders moved into privacy-focused tokens.
• Zcash and other privacy coins like Canton also posted gains, continuing a rally that started in late December.
• Solana (SOL) increased about 5% but stayed near resistance levels despite positive sentiment from institutional interest.
• Bitcoin remained stable and range-bound, with price action driven mainly by ETF flows rather than strong directional momentum.
• Market makers noted that suppressed funding rates in December set up conditions for short covering when liquidity returned after the holidays.

Monero (XMR) reached a new all-time high on January 12, trading at $579 by midday Hong Kong time. The privacy token rose more than 20% in a single day, outperforming both Bitcoin and Ethereum.

The breakout came after a multi-month climb that picked up speed over the past 24 hours. Zcash and other privacy-related assets like Canton also moved higher, extending gains that began in late December.

Trading volume expanded during the rally, showing strong buyer activity. The move pushed Monero past its previous all-time high and brought it close to the $600 level.

Solana’s SOL token rose about 5% over the same period. The token kept pace with the broader altcoin market but could not break through key resistance levels. Price action remained capped despite improving sentiment and institutional interest in the network.

Analysts at 10x Research said Monero has benefited from renewed focus on privacy and expectations around upcoming protocol upgrades. These factors have increased demand for the token despite ongoing regulatory concerns in the sector.

The firm noted that Solana continues to draw institutional attention through filings and planned network improvements. However, its price remains stuck near technical resistance levels, showing a gap between positive narratives and actual market movement.

Privacy Tokens Lead Market Action

Bitcoin stayed mostly unchanged during this period. The largest cryptocurrency reinforced a pattern where altcoins rally based on positioning and rotation rather than new directional moves from Bitcoin itself. Ether posted small gains but did not match the intensity seen in privacy assets.

Market maker Flowdesk said the rally reflected traders being caught on the wrong side after the holiday period. Suppressed funding rates through December created conditions for short covering and risk-on positioning once liquidity came back to the market.

In this environment, mid- to large-cap tokens like XMR, ZEC, and SOL moved higher even as Bitcoin returned to range-bound trading. The firm added that Bitcoin’s price action is increasingly driven by ETF flows rather than conviction trading.

Technical Setup Points Higher

Monero broke out of a multi-year structure that had held since the 2021 market top. The token surged above the neckline of a cup-and-handle pattern, a bullish formation that often signals trend continuation.

Based on this setup, the projected target extends well above $1,000. The broader structure points to a long-term objective near $1,600.

The liquidity flow indicator shows consistent capital inflows since the 2021 bull run. The MACD indicator is replicating a similar pattern seen during the previous bull market period, where it rose after extended consolidation.

The next resistance zone for Monero sits between $650 and $720. A sustained move above this range would strengthen the case for an advance toward $850 to $1,000 in the coming months.

Stablecoin flows have been choppy, with USDT trading at a small discount at times. This indicates capital rotating in and out rather than committing firmly in one direction.

The current market is willing to chase thematic trades like privacy tokens while Bitcoin waits for a catalyst strong enough to break its tightening range.

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