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The TRON ecosystem has hit its all time high revenue number on December 3rd, 2024. According to Justin Sun’s X post, TRON’s revenue hit $20 million in a single day, marking an all-time high (ATH).
The ATH revenue number came alongside Justin calling TRON as the next XRP and the price of TRX climbing over 70%.
At the press time, the price for TRX is at $0.3929, up 70.87% as compared to the same time last day.
Justin Sun Compares TRX To XRP
TRON founder Justin sun recently compared TRX to XRP. Discussions have been sparked by Sun’s recent claim that TRX might be the “next XRP,” especially in view of XRP’s impressive price performance in recent weeks.
The statement has likely buoyed investor sentiments as Tron (TRX) saw a notable upswing, with its price rapidly increasing over the previous day.
The market interest in the cryptocurrency has grown as a result of both market fervor and calculated actions taken by its creator, Justin Sun.
With altcoins garnering a lot of interest, this impressive growth coincides with a larger rebound in the digital asset market. TRX seems to be riding this wave, which is supported by rumors that it might be added to Grayscale’s investment portfolio.
TRX was recently listed by Grayscale as one of the 35 tokens being considered for investment but updates on new additions are expected on a quarterly basis.
TRX Price: What To Expect In The Future?
With the comparison of TRX with XRP, investors are now wondering if the coin has the potential to surge exponentially in the future. According to TRX’s technical indicators, the Fear & Greed Index is currently at 78 (Extreme Greed), indicating a bullish sentiment.
TRON had 11.33% price volatility over the previous 30 days and 19/30 (63%) green days. The overall sentiment regarding the price prediction of TRON is bullish with 29 market parameters indicating bullish signals, while two indicating bearish signals.
If the current optimism continues, TRON’s 200-day SMA is expected to increase over the course of the upcoming month, reaching $0.18993. During the same course of time, TRON’s short-term 50-day SMA will reach $0.323786.
One well-liked indicator used by crypto market participants for determining if a cryptocurrency is overbought (above 70) or oversold (below 30) is the Relative Strength Index (RSI) momentum wave. With the current RSI value of 93.41, the TRX market is perceived as being overbought but still in bullish territory.