Key takeaways:
Monero (XMR) surpassed the $500 mark for the first time since its peak in May 2021.
The privacy-focused cryptocurrency briefly touched $500.66 after rising more than 6% on Sunday and 20% over the past week. This brought it closer to its all-time high of around $517.50, set in April 2021.
Zcash Fiasco Causes XMR Price Rally
Monero’s rise stands in stark contrast to the turmoil surrounding its privacy coin rival, Zcash (ZEC).
On Wednesday, the Electric Coin Company (ECC) team behind Zcash resigned en masse, citing intolerable working conditions and board disputes over the project’s assets and direction.
The fallout exposed deep divisions in Zcash’s leadership, particularly regarding Project Bootstrap and funding allocations. ZEC price plummeted more than 20% days after the mass resignation, hitting a weekly low of around $360 over the weekend.
Monero also gained support from a wave of bullish institutional commentary.
In their latest reports, companies such as Grayscale and Coinbase highlighted privacy coins as a key growth theme, citing the growing demand for financial confidentiality in an increasingly regulated crypto landscape.
Related: Crypto Privacy in 2026: Compliance-Friendly Tools Take Center Stage
With Zcash in flux, traders appeared to favor Monero as the cleanest exposure to privacy.
Monero Fractal Indicates Rally Won’t Last
In January, XMR was on the cusp of price discovery as it eyed a breakout above its all-time high around $517.50.
There have been seven similar breakout attempts in the past, each of which failed and followed by strong corrections, ranging from approximately 40% to as much as 95%, towards ascending trendline support.
XMR will be at risk of entering a prolonged correction phase if history repeats itself, pushing its price towards $200-$270, an area that aligns with lower trendline support and the prevailing Fibonacci retracement lines.
Conversely, a sustained break above the $500 to $520 resistance would invalidate the bearish fractal.
In that scenario,
This article does not contain investment advice or recommendations. Every investment and trading move involves risks, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness or reliability of the information contained in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
This article does not contain investment advice or recommendations. Every investment and trading move involves risks, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness or reliability of the information contained in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
