bullish

Monero

April

Zcash

Grayscale

Key takeaways:
<ul>
 <li>Monero jumped above $500 as traders favored it over Zcash amid governance turmoil.</li>
 <li>History suggests XMR risks a sharp pullback unless it firmly breaks above $500–$520.</li>
</ul>
Monero (<a href="https://cointelegraph.com/xmr-price-index" rel="noopener noreferrer nofollow" target="_self">XMR</a>) surged past 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. That brought it closer to its record high of around $517.50, established in April 2021.
<figure>
 <img alt="Monero’s XMR hits $500 for the first time since 2021 as rival Zcash fumbles" src="https://s3.cointelegraph.com/uploads/2026-01/019bad8b-148e-7c8c-83af-d08a678388a7.png" title="">
 <figcaption style="text-align: center;">
 XMR/USD daily chart. Source: TradingView
 </figcaption>
</figure>
<h2 id="zcash-leadership-crisis-contrasts-with-monero-rally">Zcash leadership crisis contrasts with Monero rally</h2>
Monero's ascent contrasted sharply with the turmoil engulfing its privacy coin rival, Zcash (<a href="https://cointelegraph.com/zec-price-index" rel="noopener noreferrer nofollow" target="_self">ZEC</a>).
On Wednesday, the <a href="https://cointelegraph.com/news/zcash-devs-split-from-electric-coin-company-plan-to-create-new-firm" rel="noopener noreferrer nofollow" target="_self">Electric Coin Company (ECC) team behind Zcash resigned en masse</a>, citing intolerable working conditions and board disputes over the project's assets and direction.
The fallout exposed deep rifts in Zcash's leadership, particularly involving the Bootstrap Project and funding allocations. <a href="https://cointelegraph.com/news/zcash-governance-turmoil-how-low-can-zec-price-go" rel="noopener noreferrer nofollow" target="_self">ZEC's price plummeted</a> by over 20% days after the mass resignation, reaching a weekly low of around $360 over the weekend.
<figure>
 <img alt="Monero’s XMR hits $500 for the first time since 2021 as rival Zcash fumbles" src="https://s3.cointelegraph.com/uploads/2026-01/019bad72-c532-7141-aa58-a62ee46dbd46.png" title="">
 <figcaption style="text-align: center;">
 ZEC/USD daily chart. TradingView 
 </figcaption>
</figure>
Monero also drew support from a wave of bullish institutional commentary.
In their latest reports, firms such as <a href="https://research.grayscale.com/market-commentary/crypto-sectors-quarterly-a-preference-for-privacy" rel="noopener noreferrer nofollow" target="_blank">Grayscale</a> and <a href="https://www.coinbase.com/institutional/research-insights/research/market-intelligence/2026-crypto-market-outlook" rel="noopener noreferrer nofollow" target="_blank">Coinbase</a> highlighted privacy coins as a key growth theme, citing rising demand for financial confidentiality in an increasingly regulated crypto landscape.
Related: <a href="https://cointelegraph.com/news/crypto-privacy-in-2026-compliance-friendly-tools-take-center-stage" rel="noopener noreferrer nofollow" target="_self">Crypto privacy in 2026: Compliance-friendly tools take center stage</a>
With Zcash in flux, traders appeared to favor Monero as the cleaner privacy exposure.
<h2 id="monero-fractal-indicates-rally-won-t-last">Monero fractal indicates rally won’t last</h2>
As of January, XMR was on the cusp of price discovery while eyeing a breakout above its record high of around $517.50.
Similar breakout attempts occurred seven times in the past, each failing and followed by sharp corrections, ranging from roughly 40% to as much as 95%, toward an ascending trendline support.
<figure>
 <img alt="Monero’s XMR hits $500 for the first time since 2021 as rival Zcash fumbles" src="https://s3.cointelegraph.com/uploads/2026-01/019badaf-f376-7648-8de5-6f576365fa35.png" title="">
 <figcaption style="text-align: center;">
 XMR/USD two-week chart. Source: TradingView
 </figcaption>
</figure>
XMR will risk entering a prolonged correction phase if history repeats, taking its price toward $200-270, an area aligning with the lower trendline support and prevailing Fibonacci retracement lines.
Conversely, a sustained breakout above the $500–$520 resistance would invalidate the bearish fractal.
In that scenario, XMR could follow the path of <a href="https://cointelegraph.com/news/xrp-zcash-algorand-outperformed-2025-altcoin-slump" rel="noopener noreferrer nofollow" target="_self">cryptocurrencies that broke out after multi-year consolidations</a> in 2025, opening the door for a rally toward $775, a Fibonacci retracement line, and a new all-time high this year.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, 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 any information 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.

Monero’s XMR hits $500 for the first time since 2021 as rival Zcash fumbles

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