The cryptocurrency market has experienced major fluctuations in the last day, with Monero (XMR) emerging as the top performer among the leading hundred coins. Its price recently recorded a new all-time high, and many experts believe the rally isn’t done yet.

How Much More?

A few hours ago, this popular privacy coin nearly reached $600 before pulling back slightly to around $577 according to CoinGecko’s reports.

XMR Price XMR Price, Source: CoinGecko

Monero’s market capitalization now exceeds $10.5 billion, placing it as the 18th largest cryptocurrency and a leader in its market segment. Zcash (ZEC), which has enjoyed its own successes recently, holds the second position with a market cap of about $6.5 billion.

In light of the new price peak, traders have begun to closely observe XMR. Some have praised the new record as a significant milestone, especially after XMR faced delisting from several exchanges, including Binance at the beginning of 2024.

X user il Capo of Crypto informed their nearly one million followers that similar to gold and silver, XMR might see short-term adjustments but he anticipates a continued upward trend. George envisioned an increase to between $800 and $900 “sooner than most expect,” while Greeny predicts a leap past $1,000. Optimist Kazi forecasts a more ambitious rise to $10,000, which would demand XMR’s market cap to hit around $185 billion, approximately equal to Tether’s USDT.

Pullback on the Horizon?

Traditionally, XMR’s spikes to new highs have been succeeded by sharp corrections. For example, in May 2021, the price surged over $500, but soon after fell below $200. A similar trend became evident in Spring 2025.

Technical indicators suggest that a pullback could be imminent, with the Relative Strength Index (RSI), a key analysis tool, compiling rapid fluctuations in prices and assisting traders in identifying potential reversals. Currently, the RSI stands at around 78, indicating that XMR is overbought and possibly due for a correction.