cryptodailytrading.com

Tron Price Prediction [Updated]: Price Still Bullish Despite SEC Security Rumours

  • Jack Thomas
    🤷 Opinions

    While there are rumours that the SEC views Tron as a security, it has done little to affect its price


Tron Price Prediction [Updated]: Price Still Bullish Despite SEC Security Rumours
You may also like:
Contents

Tron, with its BTT ICO that occured this week through Binance and was deemed quite successful, has seen some steady growth since last week and seems to be on a bullish path. However, there have also been some negative rumours swirling around the coin, but these do not seem to be having much of an effect, making one wonder about their validity.

Thomas Schulz, co-Founder and CEO of ChaChingWallet, put out a tweet claiming he had been warned by an ‘SEC insider’ to stay away from Tron, insinuating that the SEC would likely be declaring it as a security, which would cause huge ramifications for the TRX token.


However, a look at the charts and the general price prediction of Tron over the past few weeks seems to suggest that there may not be much to this claim. Either that, or not many are taking Schulz’s claims seriously.

Stay away

In a series of tweets, Schulz argues that TRX is a security and the SEC insider told him to “stay away from TRON.” However, the source didn’t give any more information, leading to this being mostly speculation.

Schulz clearly does not have much faith in Justin Sun or the Tron project as he accuses them of running a “vicious marketing campaign,” going on to add that “this isn’t a fruitful project.”

Markets moving on

Regardless of this rumour and Schulz’s tweets, the price prediction of Tron continues in an upward trajectory. TRX is up four percent in the last week but pretty stable in the previous day. All the same, the simple fact that prices are trending above the primary support and breakout level at 2.5 cents is bullish for TRX.

There is a lot of excitement and movement surrounding the TRX market at the moment, especially with the release of the BTT token and that avenue of businesses and adoption.

There has not been any major breakout in price, but the fact that there is growth despite attempts to spread fear, uncertainty and doubt means that Tron could be looking for a long-term price improvement over the next few weeks.

Since TRX prices are oscillating inside the Jan 28 high-low, every dip should technically be a buying opportunity with first targets at 4 cents and later 6 cents.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!
👓 Recommended articles

XRP Price Surging in Bullish Trend: Did Forbes 50 List Boost Ripple to Be Taken Seriously?

  • Jack Thomas
    🤷 Opinions

    XRP is seeing some good gains, but could it be because Forbes has listed it among other major billion dollar companies in blockchain?


XRP Price Surging in Bullish Trend: Did Forbes 50 List Boost Ripple to Be Taken Seriously?
You may also like:
Contents

Ripple, and its XRP token, have always had a hard time being taken seriously by the Bitcoin maximalists and other ‘true’ crypto aficionados. The company has been focused on partnering with banks, which has been for a long time the scourge of the crypto market.

However, there has been a change in the sentiment around cryptocurrency and blockchain, with media houses like Forbes calling 2019 the year of enterprise blockchain, and one of rebuilding after the speculative boom and bust in 2017/2018.


Forbes has now produced a prestigious list of 50 enterprise business valued over $1 billion that are doing good things with blockchain and crypto, and Ripple is one of the few startups that are on the list. Ripple finds itself in the company of businesses like Microsoft, IBM, BP, Amazon and other multinational conglomerates.

A reputation boost?

So, while XRP and Ripple have been mostly viewed with suspicion within the cryptocurrency community, it could be that their appearance to the mainstream through the lense of Forbes is a lot better and brighter.

The blockchain list by Forbes is intended to inform about how much enterprise use of blockchain is actually going on from major companies, and some companies many would never have thought were involved in the technology.

There is no doubt that it is a boost for the technology underpinning cryptocurrency, but it would seem that even the XRP token is receiving a boost from this unearthing of institutionalised interest.

Price prediction?

This legitimizing boost has been reflected in XRP’s increase in value of over six percent, but looking ahead, it appears as though there is chance for a bigger boom.

This upwards move firmly established XRP’s support level around $0.32, so one analyst believes that it may continue surging towards $0.48 in the near-future.

Ryan W, a popular cryptocurrency analyst, spoke about this possibility in a recent tweet, noting that XRP does face resistance levels at $0.38, $0.44, and $0.50, but also explaining that he expects the crypto to garner enough upwards momentum to break above at least two of these resistance levels with a price target set at $0.48.

'Open your world on blackboard with businessman wearing boxing gloves' image by ru.123rf.com
In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
👓 Recommended articles