TRX Rises, Will Its Price Follow XRP Price?
1970-01-01
Bittime - Tron (TRX) recently experienced an impressive surge of 66% within 24 hours, reaching a price of $0.44 before declining slightly to $0.39.
This sharp increase makes Tron (TRX) one of the best performing altcoins, and many compare it to Ripple (XRP), which recently jumped to 300%.
So, what is the driving force behind this extraordinary rally?
Justin Sun's Record Earnings and Vision
TRX's price increase coincided with a surge in trading volume that reached more than $14 billion—a clear sign of growing investor interest.
One of the main factors behind this rally is Tron founder Justin Sun, who recently compared TRX to XRP and called it the “XRP of 2025,” sparking enthusiasm among crypto fans.
On December 3, Tron set a new record by generating $20 million in revenue in a single day, which significantly increased market confidence.
Sun also claimed that 2025 will be “the year of crypto,” citing improved regulation, increased adoption of digital assets and more favorable market conditions.
Additionally, Sun has a vision to make Tron a leader in cross-border payments, seeking to compete with XRP which has made significant progress in this area.
$30 Million Investment to Expand Tron's Reach
In another strategic move, Sun announced a $30 million investment in Donald Trump-led World Liberty Finance.
This partnership is expected to strengthen Tron's influence in decentralized finance (DeFi) by bridging the gap between traditional finance and the crypto world.
If successful, this move could open up new opportunities and solidify Tron's position in the DeFi market.
TRX Technical Outlook
TRX's growth is supported by strong buying pressure, with data from the Bulls and Bears Indicator showing that bullish activity dominates.
The Money Flow Index (MFI) also confirmed this trend, highlighting increased liquidity coming into the market—an encouraging sign for TRX's future prospects.
Technical indicators over the past week show a positive outlook, although the token appears slightly “overbought.” If the buying momentum continues, TRX could target a price of $0.45 and even close to $1 in a very optimistic scenario.
However, in case of profit taking, a temporary drop to around $0.33 is possible.
Read too Latest Analysis of Tron Coin Price (TRX): 14% Jump in August 2024
RSI Levels Indicate Crucial Moments
The Relative Strength Index (RSI) for TRX stood at 87.08, reflecting intense buying activity.
Although these levels usually indicate a possible drawdown, historical patterns suggest other possibilities. The last time TRX reached a similar RSI level, the price of this token surged to an all-time high.
If this trend repeats, TRX could break its previous record and reach new highs by the end of December.
TRX to IDR via Market Bittime
What's Next for TRX?
As TRX continues its upward trend, the next few days will be crucial. Investors are monitoring whether the token can maintain this momentum or if a correction is imminent.
While a drop to $0.33 is possible if profit-taking increases, the token's strong fundamentals suggest room for further growth.
Whether this is just a short-term spike or the start of a long-term bull run, TRX is a token to watch as the crypto market develops.
Read too TRON (TRX) Price
FAQ
What is TRON (TRX)?
TRON (TRX) is a blockchain-based platform that functions as a decentralized operating system, similar to Ethereum.
TRON aims to advance the decentralization of the internet and its infrastructure.
At the core of TRON is a smart contract platform that offers high throughput, high scalability, and high availability for all Decentralized Applications (DApps) in the TRON ecosystem.
The native token of the network is Tronix (TRX), which is used for various transactions and applications within the TRON network.
TRON was founded by Justin Sun and launched after a successful ICO in 2017, which raised more than $70 million.
What Is TRON's All Time High Price?
The all-time high price for TRON (TRX) is $0.2317, which was reached on January 5, 2018.
Currently, the TRX price is around 45.76% lower than that high.
Reference
Debashree Patra, Tron (TRX) Soars 66% in 24 Hours: Is This the Next XRP?, Accessed December 5, 2024
Author: IN
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