Justin Sun’s bold “Next XRP” claim triggers a significant TRX price increase

• Tron’s price rose over 15%, driven by Justin Sun’s comparison of TRX to XRP.






• Sun’s statements sparked speculation that TRX could follow a similar path to XRP, which has seen significant gains recently.

The price of Tron rose by more than 15% in a day, leading to greater interest among investors. This rally coincides with a series of bold statements from Tron founder Justin Sun, who called TRX the “next XRP.” At

TRX, the next XRP👀

— ER Justin Sun 🍌 (@justinsuntron) December 2, 2024

XRP has seen an incredible surge as the token price has increased by around 23% in a week and is trading at $2.45. This has piqued the interest of the XRP community and led to a discourse about TRX’s expansion potential. The comparison between the two tokens has resulted in high trading volumes. Market analysts are examining whether TRX can repeat the same performance as XRP in the current market trend.

TRX hits new all-time high

On December 4th, TRX, the native token of the Tron network, reached and surpassed a new all-time high $0.44, Mark one 80% Increase in just 24 hours. This rally pushed TRX’s market cap to around $36.77 billion, surpassing AVAX with a market cap of $21 billion. With the cryptocurrency market still on the rise, Tron has played an important role in the altcoin rally.

This new high was reached before Tron hit an all-time high of $0.22 in June 2018. It took more than six years for the token to reach this level again and set another record of $0.44.

Javon Marks, a renowned crypto trader, stated that the price of TRX would rise sharply on X and TRX could gain another 720% and reach $1.11. His prediction came after a similar prediction in September when TRX was trading at $0.155.

Tron whale activity

In addition to the price increase, the TRX market rally is also supported by whale activity. The number of TRX transactions over $100,000 increased from 244 to 722 in 24 hours between December 2nd and 3rd. Data from IntoTheBlock shows that the total value of these transactions reached $432 million, indicating participation from more than just casual institutions and high net worth individuals.

Whale activity typically leads to an increase in the number of retail traders due to fear of missing out (FOMO). This has increased buying pressure on TRX, causing the price to rise. As a result, TRX’s trading volume also doubled daily and reached $10. Billions in a single day.

Although the TRX price surge puts the token in good stead for short-term gains, it also increases price fluctuations. The increase in trading and whale activity suggests that TRX could see big changes in the near future. Sell-offs by whales could lead to a market decline, which in turn creates fear, uncertainty and doubt (FUD) among retail investors. Additionally, TRX’s Relative Strength Index (RSI) is currently trading above the 70 level, suggesting that the token is overbought.

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