Monero Price Surge Amid Market Challenges: Can It Hit $700?

MyShine January 31, 2026 2 min read

The cryptocurrency landscape is ever-changing, with certain altcoins outperforming amidst broader market weakness. One such standout is Monero (XMR), a privacy-focused digital asset that has recently captured the attention of traders and investors alike. Let’s explore Monero’s recent performance, the factors driving its resurgence, and its market outlook for 2026.

Why Monero is Trending: Recent Price Performance

Monero (XMR) has seen a remarkable 11% surge in the past 24 hours, climbing beyond $490 after rebounding sharply from a recent low near $425. This spike in performance has been supported by a staggering 70% jump in trading volume, signifying strong market participation and renewed investor interest.

Key support for Monero was established in the $450–$464 range, and the asset is now targeting immediate resistance points near $500–$520. A sustained break above this range could lay the groundwork for a bullish rally toward higher targets at $650–$700.

Privacy Assets in Demand: Monero vs. Zcash

The recent geopolitical tensions, coupled with increasing demand for privacy-centric solutions, have fueled interest in Monero. Unlike its competitor Zcash (ZEC), which offers optional privacy features, Monero enforces transaction confidentiality by default. This approach mitigates compliance ambiguity and makes it a more attractive option for users who prioritize uncompromised privacy in their transactions.

Regulatory concerns, including EU discussions on tighter scrutiny of privacy coins, ironically seem to be driving Monero’s appeal further. This has cemented its position as a hedge against market uncertainties.

Technical Outlook: Can Monero Sustain Momentum?

On the technical front, Monero has regained its rising price channel, which has been intact since mid-2025. Its recent rebound originated from a strong demand zone at $420–$430, which has consistently provided support.

With Monero now trading near $490, its next major resistance lies at the psychologically significant $500 mark. A daily close above $500–$520 would confirm bullish momentum, opening the path to $650–$700 by 2026. Key indicators back this cautious optimism: the RSI has climbed to ~48, reflecting a recovery from oversold conditions, while a contracting MACD histogram suggests weakening bearish momentum.

On the downside, a failure to hold the $460 support level could lead to retesting the $430 region. If this level is breached further, it might pave the way for a deeper correction toward $400.

Looking Ahead: Monero’s Long-term Potential

As 2026 approaches, Monero’s outlook remains constructive given its strong fundamentals and growing appeal as a censorship-resistant asset. Should bullish trends persist, the altcoin could potentially reach $800 under favorable market conditions fueled by macroeconomic uncertainty and persistent demand for privacy-focused assets.