- The Story token traded as low as about $2.12 on Monday but has since staged a sharp recovery.
- IP rallied above $2.65, with trading volume surging more than 400% to $198 million.
- Buyers may be riding bullish momentum and targeting $3 or higher.
IP, the native token of the Story Protocol, has outperformed many leading altcoins over the past 24 hours.
At the time of writing, the token is up more than 22%, reaching its highest level since early December 2025.
Other coins registering notable gains include Monero, Canton and Aerodrome Finance. Ethereum is also targeting $3,500 as its price holds key levels.
Story is a layer-1 blockchain project focused on tokenization and making intellectual property programmable for creators in the AI era, leading this privacy-focused rally.
IP’s gains come amid a broader upswing in privacy-focused altcoins, and the token’s price increase coincided with a daily trading-volume jump exceeding 400%.
IP price breaks above $2.50 on mega volume
As noted, the Story token has experienced a clear breakout.
When the price decisively pushed above $2.50, buyers stepped in on much higher 24-hour trading volume.
After reclaiming the $2.10 area, the asset surged beyond $2.65. Data shows trading volume exploded more than 450% to $198 million.
The spike reflects strong upward momentum, and IP could extend its ascent toward the $3 level. That price point represents a psychological barrier, and a successful breakout could open the door to further gains.
From a technical perspective, the token is trading above the 50-day Exponential Moving Average (EMA) at $2.31, offering solid support for additional upside.
If the broader top cryptocurrencies turn decisively positive, IP may see potential for further rallying.
Price chartStory by TradingView
However, the Relative Strength Index (RSI) on the daily chart sits at 73 and is in overbought territory.
This suggests a potential pullback once profit-taking emerges. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator shows some hesitation, with the histogram indicating rising weakness.
Story posts gains as Monero leads top altcoins higher
As shown in the chart below, IP has posted impressive gains today.
The fresh upward wave pushed the token to a high of $2.65, a more than 22% pump in 24 hours, in line with marked gains for several other cryptocurrencies.
Monero (XMR) is leading privacy coins higher as its price rallies toward the $600 area in a strong move.
$XMR took the throne from $ZEC and is now leading the privacy bull wave, looking really strong, after reaching new All Time Highs! pic.twitter.com/wCzF8781hm
— Rand (@cryptorand) January 12, 2026
As Monero accelerates higher, other coins that had lagged in recent sessions, including Zcash (ZEC), are also rallying. ZEC is attempting to shake off developer turmoil and move higher, rising about 5% to above $410.
Monero and Zcash remain the leading privacy coins, but regulatory scrutiny — such as the Dubai ban — has placed these tokens in the spotlight.