Tron and Ripple’s XRP on the High
This past week, most investors have been feeling a great deal of anxiety due to the significant drop I cryptocurrency prices. The good news is that perhaps Tron’s and Ripple’s high standing today may alleviate the anxiety. The question that arises here is what led to the upsurge in their value.
Some investors have linked TRX’s upsurge to the announcement made by the platform’s CEO and founder, Justin Sun. He hinted to followers on Twitter that the platform may be partnering with a billion-dollar valuation magnate – speculation is that it is Baidu. These types of announcements have the potential of positively affecting the market.
The partnership may be one of the many efforts that the Tron foundation is making to ensure that it can become one of the top cryptocurrencies on the market. The platform is currently at the forefront of trying to gather several partners to ensure that their efforts become a reality. Additionally, TRX is looking to leverage the power of social media to generate buzz and with 1.5 million followers on Facebook, it may be possible. There has also been news that the platform is working to acquire industry player Bit Torrent for file transfers.
Right now, many are looking at the future of Tron and see something bright. TRX is at an impressive three percent and it has a market cap of $1.63 billion. The platform was also trading at $0.022 with a $183.61 market cap. Even with the drop, Tron seemed to lead in the surge.
TRX is not the only platform that has enjoyed a bull market. Ripple’s XRP has also survived the storm by staying steady.