Wall street Trader Picks Monero Over XRP & SOL
Legendary trader Peter Brandt has named Monero (XMR) his favorite altcoin chart, putting fresh attention on the privacy-focused cryptocurrency as it rebounds from recent lows.
Brandt, a well-known veteran technical analyst, compared Monero’s structure favorably against several major altcoins including XRP, Solana, and Ethereum. His key point was that XMR had already absorbed much of the overhead supply sitting above the current price, leaving a cleaner technical path forward than many other large-cap alternatives.
XMR Price Action
Monero has shown resilience in October 2026. After dipping toward the $520 area, XMR staged a solid rebound and climbed back toward the $550 zone. The move has brought the $560–$565 resistance region back into focus for traders.
A sustained break and hold above that zone would open the door to higher targets. Many technical observers are now watching the $580–$600 area as the next logical upside zone if momentum continues. On the downside, the recent swing lows near $520 remain an important support level to monitor.
Why the Chart Matters
Brandt’s comments are purely technical. He is not making a fundamental prediction about privacy demand, regulation, or adoption. Instead, he is highlighting a chart that has already worked through a significant amount of selling pressure and now shows a relatively clear structure compared with other popular altcoins.
This kind of endorsement from a respected chart technician often draws short-term attention from traders looking for high-conviction setups, even if the longer-term fundamentals of Monero (privacy features, ongoing development of FCMP++, and persistent exchange delisting pressures) remain separate conversations.
Broader Context
While the technical picture has improved, Monero continues to operate in a challenging environment. Many centralized exchanges have restricted or delisted privacy coins, and regulatory scrutiny of anonymity-enhancing assets remains elevated in several jurisdictions. At the same time, development work on major privacy upgrades (including Full-Chain Membership Proofs) continues in the background, which long-term holders see as a positive fundamental driver.
For now, the immediate story is the combination of Brandt’s technical preference and XMR’s ability to recover from the $520 area and challenge higher resistance.
Key Levels to Watch
- Support: ~$520
- Near-term resistance: $560–$565
- Next upside zone: $580–$600
Whether Monero can turn Brandt’s favorite-chart status into a sustained breakout will depend on whether buyers can clear the current resistance zone with conviction. As always with technical calls, the chart can change quickly if broader market conditions shift.