Veteran trader and chart analyst Peter Brandt has turned his focus to Monero, suggesting the privacy-focused cryptocurrency may be nearing a major price breakout. Brandt recently compared Monero’s long-term price pattern to silver’s decades-long consolidation before its sharp rally, hinting that XMR could be entering a similar phase of delayed but strong upside.

Monero Price Breakout After Long Consolidation

Brandt’s view is based on long-term market structure rather than short-term price targets. He highlighted Monero’s extended period of sideways trading, marked by repeated failures to break above key resistance levels.

This setup closely resembles silver’s historical price behavior, where years of consolidation and gradual higher lows eventually led to a sharp upward move once major resistance was cleared.

For Monero, this consolidation phase lasted nearly seven years. The token spent much of that time trading below its 2018 high, pressured by regulatory scrutiny, exchange delistings, and limited mainstream attention.

XMR Price Enters New Highs

That trend now appears to be changing. Earlier this week, Monero climbed above $578, setting a new all-time high and moving past its previous peak near $540.

Since late 2024, XMR Price has shown a steady upward trend, reclaiming former resistance levels and turning them into support. Market analysts say this price structure is common when an asset enters price discovery, where fewer historical sellers remain and fresh demand drives further gains.

Privacy Coin Gains Despite Regulatory Pressure

Monero’s recent rally stands out as it comes amid ongoing regulatory pressure on privacy-focused cryptocurrencies. While several regions have increased restrictions on privacy tools, demand for XMR has continued to rise.

So far this year, Monero is up roughly 33%, following a strong 124% gain in 2025. Analysts link this momentum to growing concerns around financial surveillance and expectations of upcoming protocol upgrades aimed at improving privacy and network efficiency.

Reacting to the new record high, Monero supporter Edwin den Boer described the move as a possible turning point for the project. He said increased visibility could help more users discover Monero as a practical option for private digital payments.

Den Boer also noted that a market capitalization above $10 billion could strengthen Monero’s ability to support private, untraceable transactions at scale, reinforcing its role as a leading privacy-focused cryptocurrency.