Recently, while many are watching closely to see if Bitcoin can break its previous all-time high, TRON (TRX) has already surpassed its historical peak. TRX was once a popular cryptocurrency known as a “Chinese coin,” but as the center of influence in digital assets shifted from China to the U.S., TRX also saw a decline in popularity.
In this bull market, however, TRON has been performing exceptionally well, breaking through its historical high. Personally, as someone who has held a small amount of this token for a long time, the rise feels quite welcome. Let’s take a closer look at the reasons behind TRX’s price surge and its outlook.
TRX is a familiar cryptocurrency for me. I’ve known about this project since the days when it was valued at just $0.0015. During the 2019 and 2020 bull markets, it gained huge traction while being traded mainly on a specific exchange, once even exceeding $0.15.
However, repeated negative regulations on digital assets by the Chinese government dragged down many China-based projects. But TRON was different. Its founder, Justin Sun, expanded the ecosystem quickly into DeFi with his natural flair as an influencer and trend insight.
Afterward, TRON ventured into gaming and meme trends in line with market shifts. With the launch of various DApps on the TRON network, it proudly rose into the top 10 cryptocurrencies by market cap.
Still, the price remained stagnant for a long time, leading to growing doubts about whether Chinese coins could still perform. In fact, until recently, TRX was stuck around $0.14.
Riding the recent bullish wave in the crypto market, TRX climbed into the high $0.20s and then suddenly spiked over just a few days, shocking the market by breaking its all-time high.
Its previous all-time high was around $0.17 back in 2019, and once it surpassed that level, there were no trapped sellers left, which allowed for a steep upward move. Then, Justin Sun’s statement propelled the price further, pushing it past $0.43 within a few days.
Currently, after a correction, the price sits around $0.27. Having already more than doubled its previous high, TRX holders are now dreaming of reaching the $1 mark.
So what triggered this sudden price jump? The main reason was a statement by Justin Sun. Known for his strong showmanship, he has, like Elon Musk, often influenced the market with his remarks on Twitter. This time, he tweeted “TRX = XRP.”
Ripple (XRP) is a cryptocurrency created for fast international money transfers and has been recognized globally, with many financial institutions testing or considering its use.
His tweet sparked speculation that TRX could become the next Ripple. In a market already in an uptrend, one meaningful comment from the founder was enough to attract attention.
Additionally, as XRP has shown a positive trend after effectively winning its battle with the SEC and holding firm within the top 10 coins, expectations are rising that TRX may follow a similar trajectory.
He also attracted attention for expressing solidarity with the Korean public during a domestic crisis.
What’s most intriguing in TRX’s outlook is whether it can reach $1. This dream isn’t unique to TRON.
Ripple also aimed for the $1 mark for a long time, and through this bull market, it surged past that to reach over $2.20. As a result, it reclaimed its spot as the third-largest cryptocurrency by market cap after previously falling out of the top five.
TRX likely shares similar ambitions. Justin Sun’s tweet reflects such aspirations and market sentiment.
Given the current market atmosphere, this goal seems within reach. After XRP broke its historical high, it rose to the $2.20 range while going through cycles of rises and corrections.
If TRX follows the same path, it may get close to that level. Furthermore, unlike XRP, which previously hovered around $0.43 to $0.51, TRX jumped from around $0.14, making it feel less overvalued.
Even with a sharp rise, there’s still potential for more growth. From its previous level, the price has nearly tripled. If it reaches $0.65, breaking $0.72 would just be a matter of time.
It’s exciting to think what kind of magic Justin Sun, with his showmanship, might perform next. This has been an overview of TRON’s price surge and outlook.
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