[guided]The monotonicity formula for stationary varifolds is the only geometric input. The hypothesis that $\Sigma$ is rectifiable lets us regard $\Sigma$ as determining a rectifiable $m$-varifold with mass measure $\mu_\Sigma$, and stationarity is exactly the first-variation hypothesis required by the formula. The added assumption $\mu_\Sigma(B(x_0,R))<\infty$ is used to make the final comparison constant finite; without it, the displayed inequality could have an infinite right-hand side. The formula says that the mass of $\Sigma$ inside balls grows at least like the model power $r^m$, in the precise sense that the ratio
\begin{align*}
r \mapsto \frac{\mu_\Sigma(B(z,r))}{r^m}
\end{align*}
is nondecreasing as long as the ball $B(z,r)$ remains inside the region where the varifold is stationary.
We apply this with center $z := x_0$. Since $0 < \rho < R$, monotonicity gives, for every $s$ with $\rho < s < R$,
\begin{align*}
\frac{\mu_\Sigma(B(x_0,\rho))}{\rho^m}
\leq
\frac{\mu_\Sigma(B(x_0,s))}{s^m}.
\end{align*}
Because $B(x_0,s) \subset B(x_0,R)$, monotonicity of the measure $\mu_\Sigma$ with respect to set inclusion gives
\begin{align*}
\mu_\Sigma(B(x_0,s)) \leq \mu_\Sigma(B(x_0,R)).
\end{align*}
Therefore, for every $s$ with $\rho < s < R$,
\begin{align*}
\frac{\mu_\Sigma(B(x_0,\rho))}{\rho^m}
\leq
\frac{\mu_\Sigma(B(x_0,R))}{s^m}.
\end{align*}
Now let $s \uparrow R$. No continuity property of the measure is needed at this point, because the numerator on the right-hand side has already been bounded by the fixed finite quantity $\mu_\Sigma(B(x_0,R))$, which is finite by hypothesis; only the scalar denominator changes, and $s^{-m} \to R^{-m}$. Hence
\begin{align*}
\frac{\mu_\Sigma(B(x_0,\rho))}{\rho^m}
\leq
\frac{\mu_\Sigma(B(x_0,R))}{R^m}.
\end{align*}
Finally, multiplying by $\rho^m$ gives
\begin{align*}
\mu_\Sigma(B(x_0,\rho))
\leq
\left(\frac{\rho}{R}\right)^m \mu_\Sigma(B(x_0,R)).
\end{align*}
This is exactly the first asserted estimate.[/guided]