- Story traded as low as about $2.12 on Monday but has since staged a strong recovery.
- The IP token rose above $2.65, with 24-hour trading volume jumping more than 400% to $198 million.
- Buyers may use the bullish momentum to target $3 or higher.
IP, the native token of the Story Protocol, has outperformed major altcoins over the past 24 hours.
At the time of writing, the token had climbed more than 22% to its highest level since early December 2025.
Other coins registering notable gains include Monero, Canton and Aerodrome Finance. Ethereum is targeting $3,500 as price holds at a key level.
Story is a layer-1 blockchain project focused on tokenizing and making intellectual property programmable for creators in the AI era, leading the initiative.
These gains come amid broader upside moves for privacy-focused altcoins, and IP’s price rise coincided with an over 400% increase in daily trading volume.
IP price tops $2.50 on mega volume
As noted, the Story token has experienced a breakout moment.
When buyers pushed price above the $2.50 level, they did so on significantly higher 24-hour trading volume.
With bulls overcoming resistance around $2.10, the asset surged past $2.65. Data show trading volume spiking over 450% to $198 million.
The move reflects strong bullish momentum, and IP could extend its upward trajectory toward the $3 mark. Traders view that level as a psychological barrier; a clean break could open the door to further gains.
From a technical perspective, the token trades above the 50-day Exponential Moving Average (EMA) at $2.31, which provides solid support for further advances.
If major cryptocurrencies turn decisively positive overall, IP could see additional upside potential.
However, the Relative Strength Index (RSI) on the daily chart sits at 73, placing it in overbought territory.
This suggests a possible pullback as profit-taking emerges. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator shows some indecision, with the histogram indicating weakening momentum.
Story climbs as Monero leads the top altcoins higher
As the chart below shows, IP delivered impressive gains today.
The new bullish wave that reached highs of $2.65—with the token pumping more than 22% in 24 hours—coincided with notable rallies across several other cryptocurrencies.
Monero (XMR) led the privacy coins higher, with XMR trading near $600 in a strong rebound.
$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 gained momentum, other coins that had dropped in recent sessions also climbed, including Zcash (ZEC). ZEC is attempting to move past developer turmoil and rose about 5% to trade above $410.
Monero and Zcash remain leading privacy coins, though increased regulatory scrutiny—such as measures in Dubai—has put privacy tokens under the microscope.