Peter Brandt hinted that the price of Monero could explode like silver
Monero (XMR) officially set a new all-time high after reaching $598. The market capitalization also exceeded 10 billion dollars for the first time. Many analysts remain bearish and believe the move is just beginning.
Veteran trader Peter Brandt added to the optimism by comparing XMR's price behavior to that of silver.
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Could Monero be the “Silver” of the Crypto Market?
On January 12, price data from BeInCrypto showed that Monero (XMR) had risen more than 30% since last Saturday. It was trading at over $585 with a market capitalization of over $10.7 billion.
The transaction volume also increased to more than 300 million dollars. This was the highest level in the previous month. The move lifted XMR above $515 from the previous cycle. Analysts believe the rally is likely to continue.
Analyst 0xMarioNawfal said: “The price continues to rise at a high rate. It is crossing resistance levels with strong momentum and minor pullbacks in the past. The structure remains very aggressive. Buyers are entering on every dip, and there are no clear signs of a spread yet,” said analyst 0xMarioNawfal.
Peter Brandt compared XMR's price action to silver's historic loss. Examined XMR on monthly chart and silver quarter.
Both have shown two major levels in the past that have formed a long-term resistance trend. Silver later broke above that trend and posted a powerful “Goddess candle.”
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As usual, Brandt did not provide a specific price target for XMR. However, the comparison indicates that a similar divine candlestick may appear on the XMR monthly chart if it breaks the trend line.
Since 2023, XMR's dominance has risen to its highest level.
Prices are at all-time highs while dominance is relatively low. This combination shows more potential. It suggests that capital may be diverted from other altcoins to XMR.
Monero could gain attention amid geopolitical tensions.
Monero has several reasons to outperform in 2026. A recent BeInCrypto report highlighted at least three drivers. They include increasing demand for privacy as tax enforcement tightens and investors' confidence changes following the Zcash group's frustration with its owners.
Geopolitical tensions may add another strong tailwind.
Tether recently suspended more than $182 million USD in five Tron wallets linked to illegal financing. A report from TRM Labs claims that Tron-based USDT has been used in money flows linked to Iran's Islamic Revolutionary Guard Corps (IRGC). More than $1 billion has moved through UK-registered companies.
Iran used more than $2 billion in crypto to fund proxy militias and bypass sanctions.
Capital is looking for safe ways to track and freeze stablecoins and non-private altcoins. In that environment, Monero may be the preferred option.
