TRON (TRX) price recently experienced a notable increase, rising over 15% in the past week. This uptick coincides with a broader recovery across global markets, signaling a positive shift for investors. The surge reflects a growing confidence in TRX, fueled by sustained bullish momentum in the cryptocurrency sector.
TRON Price Rises as Judge Sides with Justin Sun Over SEC in Key Legal Battle
TRON Price prevailed in a recent legal decision. As previously reported by Coingape media, a New York federal judge dismissed the SEC’s motion to hasten the lawsuit it filed against the Tron Foundation and its CEO, Justin Sun.
The court’s ruling delayed the SEC’s attempt to sort out initial legal issues before possibly going to trial. The SEC had sought an earlier pre-trial meeting and the ability to file more documents in its case involving Tron, the BitTorrent Foundation, and Rainberry Inc. This development represents a legal hiccup for the SEC in its enforcement efforts.
TRON Price Surge: Meme Leaders Propel TRX to New Heights
The TRON price is poised for significant growth as key meme community leaders are eager to integrate their platforms. In a recent discussion, the leader shared their plans to transition millions of users to TRX’s burgeoning ecosystem. This move is anticipated to amplify network activity and escalate the overall value of Tron.
Today, I talked with several major meme community leaders about the meme ecosystem on Tron. They said they plan to bring millions of users 🤯 to the Tron community and can’t wait to join the Tron ecosystem as soon as possible. They’re already here—what about you? TO THE SUN🌞
— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) August 19, 2024
Justin Sun emphasized their readiness to tap into the Tron network, foreseeing a substantial rise in user engagement. This development could elevate Tron’s position in the digital market, making it a central hub for meme coin enthusiasts.
TRON Price Analysis: TRX Rises by 6%; More Gain Ahead?
Over the past 24 hours, the Tron price has seen a significant uptick. At the time of writing, the TRX price hovered at $0.1461 during U.S. trading hours, making a strong surge of 6%. Tron has climbed into the top 10 cryptocurrencies by market cap, surpassing Cardano, and now holds the 10th position with a market capitalization of $12 billion.
TRON price shows signs of a bullish trend, with its value rising. If this upward trend holds, we could see the price reaching as high as $0.2 and even touching a new all-time high at $0.3.
TRON Price
According to CoinMarketCap, the trading volume has surged by 151% to $784 million, indicating robust market activity and growing investor interest in TRX.
The moving average convergence divergence (MACD) indicates a potential uptrend. The MACD line has crossed above the signal line, suggesting a bullish momentum. Additionally, the relative strength index (RSI) indicates that the asset is overbought with a value exceeding 87, fueling a bullish trend.
TRON Price Chart| Source: TrdaingView
On the flip side, If market conditions sour, the TRON price prediction is expected to level off at around $0.14. If the downturn persists, the price may decline to approximately $0.135, ushering in a bearish period.
Frequently Asked Questions (FAQs)
It enables creators to earn more by removing intermediaries like YouTube and Facebook.
Users can create and use smart contracts, dApps, and track transactions on a public ledger.
TRON offers lower fees and faster transaction speeds, focusing on content monetization.
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Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
