Monero Price Jumps 8% As Altcoin Momentum Strengthens

By Mishal Ali | Edited By Ammar Raza,June 4, 2026, 3:10 AM

Monero (XMR) has become one of the strongest-performing cryptocurrencies in recent sessions, gaining more than 8% while Bitcoin and several major altcoins continue to face selling pressure.

At the time of writing, Monero price stood at $364.76, with a 24-hour trading volume of $317.7 million and a market capitalization of $6.73 billion. An 8.43% increase over the past 24 hours placed XMR among the market’s top-performing cryptocurrencies, alongside Hyperliquid (HYPE) with a 27% increase and Stellar (XLM) with a 17% increase.

Source: CoinMarketcap

Altcoin Season Index Signals Improving Market Conditions

Broader altcoin sentiment continues to improve, supporting Monero’s recent strength. According to CoinMarketCap’s Altcoin Season Index, the 90-day Altcoin Season Index rose to 56 after a sharp recovery from Bitcoin Season territory.

Although the reading remains below the 75 level that typically confirms a full altcoin season, the increase points to a gradual rotation of capital from Bitcoin into alternative cryptocurrencies. Meanwhile, the total altcoin market capitalization remained stable between $950 billion and $1 trillion, reflecting growing investor confidence in the sector.

Source: CoinMarketcap

Monero Price Structure Suggests Long-Term Upside

Crypto analyst Trader Kitsune recently highlighted the Monero price structure, noting that XMR remains in a favorable position despite recent market volatility.

According to the analyst, Monero price swept its previous all-time high earlier this year before entering a correction phase. The pullback brought XMR close to the 2022 high near $290, where it also tested its 2026 yearly open and formed a consolidation range.

Source: Analyst Trader Kitsune X post

The analyst identified this region as a major support zone that continues to hold despite broader market fluctuations.

Another key observation involved Monero’s market capitalization relative to ZCash (ZEC). Historically, Monero’s market cap ranged between two and five times that of ZCash. Currently, the ratio sits near 0.6x, which may indicate room for expansion if investor interest returns to privacy-focused cryptocurrencies.

Trader Kitsune also noted that renewed attention toward privacy coins could favor Monero, given its long-standing position as the sector leader.

Based on a measured-move projection, the analyst outlined a long-term Monero price target of approximately $2,800, while emphasizing that such a move would likely develop over an extended period rather than occur in the near term.

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Recovery Faces a Critical Technical Test

Despite the recent rally, the short-term Monero price outlook remains uncertain. TradingView data shows XMR below the 20-day, 50-day, and 100-day EMAs, while the 200-day EMA near $371 continues to act as a major resistance level.

A recent sell-off pushed Monero price toward the $340 support zone. Buyers stepped in around that area and helped limit additional downside pressure.

Source: Tradingview

At the same time, the MACD indicator remains bearish. Negative histogram bars point to weaker momentum despite the recent price bounce.

For bulls to gain control, XMR needs a move above the $370–$376 resistance zone. A break above that range could improve market sentiment and support further upside.

On the downside, the $340 support level remains important. As long as Monero price stays above this zone, the broader bullish structure remains intact.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

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