Will TRX Coin Price Follow XRP’s Massive Rally? Is $1 Within Reach?
Tron (TRX) surged 66% in the past 24 hours to $0.44 before easing back slightly to $0.39. This impressive rise makes TRX one of the best-performing altcoins on the market, comparing it to Ripple (XRP) which recently saw a massive 300% price increase.
Trading volume surged to more than $14 billion, a clear sign of rising investor interest and market support. But what’s behind this sudden jump? A lot of that comes from Tron founder Justin Sun and his latest move, which he calls TRX=XRP.
Long TRX, short XRP?
On December 3, Tron hit a new revenue record, earning $20 million in a single day, which also pushed up the price. Sun has been making some bold moves, including declaring that 2025 will be the “Year of Cryptocurrency” due to better conditions, clearer regulation, and more people adopting digital currencies. He also wants Tron to become a leader in cross-border payments, similar to how Ripple’s XRP operates.
Recently, Sun also announced a $30 million investment in Donald Trump’s World Liberty Finance to help expand Tron’s influence in the decentralized finance (DeFi) space. This could be significant for Tron as it could provide new opportunities to connect the traditional finance and crypto worlds.
The key factor driving TRX’s growth is strong buying pressure, with bullish activity outweighing selling on bullish and bearish indicators. The Money Flow Index (MFI) supports this, highlighting that more liquidity is entering the market, which is a bullish sign for the future of the coin.
TRX Technology Outlook
TRX’s technical indicators over the past week suggest a positive outlook, although the coin may be a bit “overbought” at the moment. If trading volume and buying momentum continue, TRX could be targeting the $0.45 mark, and possibly even close to $1 in a highly bullish scenario. However, if profit-taking takes over, a temporary pullback to around $0.33 is possible.
For example, the relative strength index (RSI) is 87.08, which means there is heavy buying, pushing the price higher. While this usually indicates that the coin is likely to fall or fall soon, it is also possible that it will continue to rise. In the past, when the RSI was this high, TRX went on to hit all-time highs. If history repeats itself, TRX may break previous records and reach new heights by the end of December.
For investors, the next few days will be crucial in determining whether TRX can sustain its upward trajectory or if a correction is imminent.
