Is Tron (TRX) the Next Ripple (XRP)?

TL:DR;

The price of Tron flew through the roof in the last 12 hours or so, breaking its previous record high and setting a new, much higher one. This came amid a compelling post from Tron’s founder comparing the protocol’s native token to a recently high-flying one: XRP.

The TRX explosion

It looks like CryptoQuant CEO Ki Young Ju’s recent prediction about the current altcoin season is coming true. He said it will be another different season, as only a select handful of assets will skyrocket periodically.

After highs like DOGE, XRP, HBAR and XLM, the last 24 hours belonged to Tron’s native token. There are no better words to describe TRX’s moves since yesterday than an all-out explosion that pushed its price from $0.23 past its 2018 all-time high and towards a new one of $0.43 , according to CoinGecko.

$TRX broke the 7-year all-time high!

We must show respect. One of the few Cryptos that beat Bitcoin for multiple cycles!

I will wait for a good long entry, my position remains intact. pic.twitter.com/4G30eHaYft

— MMCrypto (@MMCrypto) December 3, 2024

Aside from the apparent offseason going on, some of the reasons for this impressive rally could be related to general developments in the Tron ecosystem. It continues to be at the forefront of Tether (USDT) transactions, as well as has seen the launch of numerous trendy projects such as sun.pump. Also, founder Justin Sun has been very active lately, especially in terms of spending cash, which includes a major investment in Donald Trump’s crypto project.

TRX = XRP?

Sun also made an intriguing comparison as TRX’s rally began and the asset had just broken its 2018 all-time high.

TRX=XRP

— THE Justin Sun (@justinsuntron) December 3, 2024

Remember the cross-border Ripple token price action. The cryptocurrency became the top performer shortly after Trump won the election, especially after Gary Gensler’s announcement about leaving the SEC. At one point, XRP was up more than 420% monthly.

Additionally, the token is trading at a multi-year high by itself, near $3 earlier this week. It has become the third largest cryptocurrency by market capitalization and continues to capture the attention of the community through its price movements.

TRX’s monthly increase of “only” 135% is much more modest, but it managed to break its previous all-time high. As of now, TRX’s market cap is still roughly 5x lower than XRP’s, but the crypto market is a wild place, especially over the past month, so anything can happen these days.

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