The Tron price has been witnessing strong gains today as it gained more than 15% today. Moreover, the comments from Tron founder Justin Sun on X have further triggered discussions in the market, particularly after the remarkable XR rally. Lets find out what it is.
In a series of X posts, Justin Sun has compared TRX with Ripple’s XRP and called TRX the ‘next XRP’ which has caught the eyes of the crypto community. In a separate post, he again duplicated a similar sentiment and said “TRX=XRP”. This comparison with XRP, which has recently witnessed massive rallies, has fueled discussions in the broader crypto market.
The rally of over 15% in TON’s price has captured the eyes of investors today. Various factors could have contributed to the recent gains in the crypto’s price. The recent shift towards the altcoins and the rising institutional and retail interest might have led to the gains. Also, TRX recently broke $20 billion in market cap. Its one-day trading volume has skyrocketed a massive 116% to $2.49 billion. It is up 23% over the last seven days while witnessing a monthly surge of around 44%.
Will TRON Follow XRP?
XRP recently made it to the top 3 list of cryptocurrencies by surpassing Tether in market cap. It witnessed massive gains over 80% in the past week. Also, XRP price was one of the top-performing assets in the digital assets space last month. Moreover, a flurry of positive developments of Ripple, including Gary Gensler’s resignation news, XRP lawsuit advancements, XRP ETF filings by top players, and others, might have contributed to the recent gains.
XRP’s resurgence follows years of consolidation driven by the extended Ripple-SEC lawsuit, which restricted its price trajectory until now. Meanwhile, TRX has shown steady growth over the years, surpassing its 2021 high of $0.184.
Technical Patterns Align
These technical breakout patterns align with Sun’s optimistic outlook, indicating that TRX may mirror XRP’s growth trajectory. TRX is now setting its sights on its all-time high of $0.30, a milestone that could validate its long-term bullish possibility.
Therefore, the comparison has not only gained investors’ attention but has also sparked discussions among investors if the Tron price would follow the same path as XRP, especially with Sun’s recent X posts.
