The $XMR token is up 13.2% against BTC in the last 24 hours alone.
The enormous breakout
$XMR's daily chart shows that the most critical technical development was the clearing of the $542 resistance level.
This level marked the absolute peak of the 2018 bull run. For eight years, it acted as an impenetrable ceiling.
$XMR ended up incinerating this level. The massive green candles from Jan. 11–13 show no hesitation, with the bulls pushing straight to $650.
This was essentially a "blue sky breakout." There were no sellers left above $542, so there was no resistance to cap the upside. This made it possible for the asset to surge sharply higher.
The rally came following the collapse of Zcash ($ZEC) earlier this week.
Following the resignation of the entire Electric Coin Company (ECC) team, retail capital has fled Zcash.
That capital is now likely rotating specifically into Monero. $XMR is now absorbing the "privacy premium" of the 2026 market.
However, as reported by U.Today, a massive trader recently went long on $ZEC following the plunge.