Not just the Tron or Ripple enthusiast, if you ask any crypto investor for the best moment, you’ll get similar answers across the board. Perhaps, the kind of response expected is an obvious one, right? Your guess is just as mine-rise in the price of the cryptocurrencies.
However, that has not been the scenario in the past week as for most investors it has been a nightmare. Reason being, the significant drop in the prices of most cryptocurrencies. Therefore, the investors found themselves on the negative side of the line. Nevertheless, not all the holders have experienced the nightmare.
Not just today, Tron (TRX) and Ripple (XRP) holders are on a happy end; all thanks to the steady price rise of the coins despite the dark prevailing conditions in the market from the recent past. But, what’s the reason behind this fantastic scenario of positive news? Leading analysts have linked it directly to the reports within Tron and Ripple.
The Real Reason(s) for the Upsurge
Any investor warmly welcomes any slight indication of price rise in the future. That being said, TRX upsurge has been linked by most analysts and investors to the recent announcement by Tron CEO and founder, Justin Sun.
In his twitter account, Sun enticed the followers about the possibility of TRON (TRX) partnering with a billion-dollar valuation magnate (many speculate it’s Baidu, China’s Google). What more can an investor want? These kinds of announcements are what they wake up expecting to hear, each morning. Therefore, one thing was for sure – an over the Internet hype was inevitable, and many would hurry at least to have a share of the cake.
The impending partnership is one of the many steps that the Tron foundation is taking in making sure that it wades its way up to being the top coin in the cryptocurrency market. They are at the forefront of tying up several partners with key market players to make their dream a reality.
Besides, TRX will leverage the power of the social media buzz as Justin Sun announced some time back about hitting 100M followers on Twitter. And now, his Facebook followers have crossed 1.5 million mark. Basically, it indicates a mass adoption of Tron across the globe.
— Justin Sun (@justinsuntron) October 15, 2018
Furthermore, the news of the company acquiring a significant industry player- Bit Torrent for more massive file transfers adds to the reasons for the upsurge. Yes, they acquired BitTorrent some months ago, but the blockchain is able to use it effectively now.
What Does the Future Hold for TRON (TRX)?
Currently, all the indications point to one direction; bright future, as TRX rides at an impressive 3% that is backed up as well with a market cap of $1.63 billion.
Not too long ago, it was trading for about $0.022 with a $183.161 million market cap. The fact that the cryptocurrency market was on the drop the past week and still, even then, Tron was leading the surge indicates a future that is bright. Besides, the Tron foundation has steps in place to boost its levels up the ladder.
TRX is not the only one that has enjoyed the positive side of the bullish beam. Ripple (XRP) is the other cryptocurrency that has been spared from the hellish nightmare of recent times. XRP is at position two talking about the significant gainers of 10 top tokens in the past week with a price of $0.44 and a market valuation of about $17 billion.
XRP staying steady and rising further isn’t just a coincidence either. Ripple has been making some major strides recently in likes of its Swell conference (where they launched the xRapid and many praised the blockchain as a whole). More and more financial institutes turning to Ripple blockchain as well as rumors that Swift-Ripple partnership is in the making has allegedly pushed the XRP price well too. Of course, the market trend is helping both coins currently, too.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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