From 24/7 Wall St. · Sam Daodu · · 1m 40s
Monero Price Prediction: XMR Topped $600 After Peter Brandt Turned Bullish
Monero price surged past $600 after Peter Brandt endorsed it as his favorite crypto, but $261m in open futures positions could trigger a rapid retreat.
In brief
Monero price surged past $600 after Peter Brandt endorsed it as his favorite crypto, but $261m in open futures positions could trigger a rapid retreat. Monero (XMR) reached $606 after Peter Brandt called it his favorite crypto, but $261 million in open futures positions risks a quick price drop. Originally reported by…
Monero Price Surges Past $600
Monero (XMR) recently crossed the $600 mark, reaching a 24-hour high of $606 as of October 19, 2026.
Peter Brandt Endorses XMR as Favorite Crypto
Peter Brandt, a veteran chart analyst, named Monero his favorite cryptocurrency in an October 6 post.
XMR Trades Near $600 with $261m Futures Exposure
XMR trades around $595 as of October 19, 2026, with $261 million in open futures positions.
XMR Needs 12% to Pass Dogecoin Market Cap
To overtake Dogecoin, XMR needs a 12% price increase, as Dogecoin has a market cap of approximately $12.4 billion.
XMR 25.4% Below All-Time High of $798
XMR is currently 25.4% below its all-time high of $798, reached on January 14, 2026.
XMR Absorbed Overhead Supply Per Brandt
Peter Brandt believes XMR has absorbed much of its overhead supply, suggesting less selling pressure than XRP and Ethereum.
XMR Futures Traders Hold $261m in Positions
As of October 18, 2026, XMR’s open interest stands at $261 million, indicating $261 million in trader investment.
XMR Price Action Could Trigger Rapid Decline
If XMR falls below $573, the $600 breakout may fail, and $261 million in open interest could worsen any decline.
The headline
Monero (XMR) reached $606 after Peter Brandt called it his favorite crypto, but $261 million in open futures positions risks a quick price drop.
