Monero (XMR) has become the talk of town within the crypto community after it hit a new all-time high of $596.61 earlier today, Jan. 12, 2026. According to CoinGecko data, XMR’s price has rallied by 18.2% in the last 24 hours, 35.8% in the last week, 24.5% in the 14-day charts, and 41.5% over the previous month. XMR’s rally is surprising, given that the larger crypto market is still struggling to gain momentum. Let’s discuss if Monero (XMR) will continue its rally, or will the privacy-focused cryptocurrency face a price correction.

Will Monero (XMR) Continue Rallying And Enter The Top 10?

Monero’s (XMR) climb to a new all-time high has pushed the project’s market cap to $10.58 billion. XMR is currently the 18th largest crypto project by market cap. If the asset continues its current trajectory, it could easily enter the top 10 projects.

Monero’s (XMR) turned bullish in late 2025, while other assets were facing price dips. In fact, the market saw a surge in the value of privacy-focussed cryptocurrencies late last year. The development may have been due to increased interest in anonymity.

Monero (XMR) hitting a new all-time high could be due to ZCash (ZEC) investors moving their funds to XMR after ZEC saw an exodus of developers. The core development team at ZEC, Electric Coin Company (ECC), earlier this month due to internal conflicts. ECC is currently working on a new project that aims to continue ZCash’s mission. ZEC’s downfall is the likely reason for Monero’s (XMR) incredible rally today.

Also Read: Zcash Crashes 17% After Core Teams Quits Amid Internal Clash

According to CoinCodex data, Monero’s (XMR) price will continue surging over the coming months. The platform anticipates the asset to hit multiple all-time highs in the first quarter of 2026. CoinCodex predicts XMR will trade at a peak of $847.92 on April 10, 2026. Hitting $847.92 from current price levels will entail a rally of about 47.8%.