Monero (XMR) is experiencing a notable price surge, breaking past the $400 mark and reaching levels not seen in nearly three years. As of this writing, XMR stands at $407.19, marking a 5% increase over the last 24 hours. While trading volume has slightly decreased by 15%, indicating that fewer traders are jumping in despite this price spike. This latest surge looks to be driven by classic breakout patterns. Over the past few months, Monero has steadily climbed from around $225 to its current high of $400. A look at the daily chart from Kraken reveals a clear parabolic curve. The 200-day simple moving average (SMA) sits at $221.39, considerably below where the price is now, signifying a significant bullish trend shift.