Monero (XMR) reached a fresh all-time high on Sunday, trading above $592 and reviving interest in privacy-focused digital assets that have largely stayed on the sidelines during the broader crypto rally. This represents the highest price for the coin in eight years, surpassing the previous breakout to $542 in January 2018, according to CoinGecko data. The token gained roughly 24% on the day and 40% over the week.
The rally marks a continuation of a trend that began late last year, when privacy-linked tokens showed resilience compared to the broader cryptocurrency market.
“Monero’s move to a new high fits with what we’ve been seeing in the privacy segment for a while,” Ryan McMillin, chief investment officer at Merkle Tree Capital, said. “Privacy was one of the few areas that held up relatively well through Q4 last year.”
Monero’s breakout also coincides with a notable decline in Zcash (ZEC). The Electric Coin Company, which develops Zcash, faced internal disagreements over governance. Following the dispute, Zcash fell approximately 25% in a single week. Significant investor capital migrated from Zcash to Monero, which contributed to upward price momentum. Capital rotation from Zcash to Monero drove price appreciation, a common market phenomenon in which funds shift from one asset to another, which boosts the price of the receiving asset.
$XMR hits a new All Time High after 5 Years
— OCT Trades (@oct_trades) January 12, 2026
Key factors behind the move :
> Breakout in December from a cup and handle
> Crisis in $ZEC which brought volume to Monero
Despite these moves :
> ZEC is still holding after the dip and in green
> XMR price target is $640 for the… pic.twitter.com/sdtk2f5YaW
Strong growth and market positioning
Monero has posted impressive performance over multiple time frames. The coin rose more than 15% within a single day and roughly 26.5% over the past week. Over the past year, Monero’s price has increased approximately 168%, significantly outperforming major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
Price charts indicate Monero surpassed key levels between $420 and $470, which now serve as a support floor. The rally has pushed Monero closer to the top ten cryptocurrencies by market capitalization. As of the weekend, it ranked around 12th, with a total market value estimated at $9.9 billion. Coins ahead of Monero in market size include Bitcoin Cash (BCH) and Cardano (ADA).
“Many privacy coins are absent from more regulated, onshore exchanges, leaving trading activity concentrated on a smaller number of offshore venues,” McMillin said. “When liquidity is concentrated on exchanges that can list these assets, price discovery can be more fragmented. That increases the scope for sharper swings and, at times, potential price manipulation.”
Market sentiment and regulatory backdrop
The Monero rally comes amid broader sector-specific narratives rather than a directional push from Bitcoin. Bitcoin traded near $90,500 over the same period, showing little change. Ether posted modest gains, while other privacy-adjacent assets, including Zcash and Canton, also advanced. Analysts at 10x Research noted that Monero benefited from a renewed focus on privacy and anticipation of upcoming protocol upgrades, despite persistent regulatory risks.
Dubai’s financial regulator implemented a ban on privacy tokens across the Dubai International Financial Centre (DIFC) on Monday. The rules prohibit trading, promotion, and fund activity for privacy coins, citing anti-money-laundering and sanctions compliance risks. Despite the ban, Monero continues to attract attention, in part because over 73 exchanges delisted XMR in 2025 due to regulatory pressure, which tightens supply and creates scarcity-driven demand.
Market maker Flowdesk attributed the rally to traders caught off guard after the holiday season. Low funding rates and high liquidity led to significant price swings in mid- and large-cap tokens like Monero. Stablecoin flows have remained volatile, suggesting capital rotates rather than commits decisively, leaving thematic trades such as privacy tokens as the market’s focal point.
Privacy coins gain relevance
Monero's privacy features, which enable pseudonymous transactions through cryptographic privacy protocols, are what make it appealing. Rising regulatory scrutiny and enhanced surveillance have drawn investors to coins that preserve transactional privacy. McMillin added,
“That doesn’t make the regulatory debate go away, but it helps explain why the privacy theme keeps resurfacing.”
As governments tighten restrictions on cash and increase oversight of non-bank payments, Monero and similar privacy coins may continue to attract interest. Monero is still the best privacy-focused digital asset, with strong price growth and renewed investor confidence.
Roman Zaika
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource, and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice, HODL FM strongly recommends contacting a qualified industry professional.
