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XRP and TRON are Once Again Bearish

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XRP and Tron
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The crypto market has been taking a turn lately, with a lot of coins seeing more gains than ever in the last three months. Some of them even managed to repair the damage done by the mid-November market crash, which followed after the BCH hard fork. However, not all coins are faring equally, and XRP and TRON (TRX) are clear examples of this.

XRP price continues to decline

XRP spent the last three months performing rather well when compared to the rest of the market. It even managed to overtake the second spot on the list of largest coins by market cap, pushing Ethereum (ETH) to third place. The rivalry between the two only ever included the fight for the second spot, with Ethereum typically being the winner.

While XRP did overtake the position for months, Ethereum has finally managed to grow enough to return to the second place. In fact, ETH has been performing particularly well during the new bullish period, while XRP is experiencing losses. This has been going on for a while now, with XRP price either being dormant or dropping, without any significant increases.

As a result, the downward trend is expected to continue even while the rest of the market experiences gains. At the time of writing, the XRP price is at $0.316, right beneath the resistance level which sits at $0.34.

TRON (TRX) experiences drop as well

While the situation regarding XRP does not indicate that a change is in sight, a similar thing can be said for TRX. The coin’s price has been gradually dropping ever since January 27th, when it surged to reach the price of  $0.030. Since then, TRX was experiencing drops, followed by slight recoveries, only to drop again.

At the time of writing, its price is at $0.0254, and while the coin is currently seeing 1.43% growth, it is likely that this is just another short attempt at recovery before the next drop. Its most notable resistance currently lies at $0.028, which TRX attempted to reach several times, albeit unsuccessfully.

Meanwhile, the most notable support lies at $0.023, putting the coin’s current price halfway between the major support and resistance.

While the coin can go either way from here, the decline in its price has been just as constant as the one in XRP’s case, which makes it likely that the price will continue to go down, if the support doesn’t hold. Due to the dropping price, TRON’s market cap dropped as well, with the TRX currently holding the 9th spot on the list of largest coins by market cap. However, if the drop continues, it is possible that TRON will continue to sink rank-wise, and that it will be replaced by Binance Coin, which currently occupies the 10th position.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Altcoins

Why Binance May Be Crucial for Tron (Trx) to Reach $1

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TRON
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TRON (TRX) has been one of the most popular crypto projects in the past year. The coin has received a lot of attention from the entire crypto community, and although the impressions may differ —  the fact is that TRX is one of the most talked-about coins, even today.

However, while the project managed to achieve a lot in less than a year — launch its MainNet, start multiple massive projects, launch dozens of dApps, hundreds of smart contracts, its own DEX, new token, and more — its price remains quite low. Undoubtedly, one of the reasons for this is its massive supply. TRX circulating supply is over 66 billion coins, while the total supply is over 99 billion.

Even so, the coin is believed to be massively undervalued, with its current price sitting at $0.028129, according to TradingView. This price, together with a market cap of $1.88 billion, pushed the coin out of the list of top 10 largest cryptocurrencies, and it currently sits at 11th spot. But, many believe that this is not a permanent position for TRON. In fact, its community believes that it is only a matter of time before TRON rises through the ranks, and its price hits $1. And, the way for the coin to achieve this is believed to be through Binance.

TRON and Binance

Binance is one of the world’s…

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Altcoins

Why Tron (TRX) Price Won’t Remain Low for Long

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TRX
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TRON (TRX) has been one of the most popular cryptocurrencies in recent years. The project has achieved a tremendous amount of success in less than a year, and while the first birthday of its MainNet is approaching, TRON certainly continues to impress to this day.

With that said, its price is still noticeably low, and many would agree that the project is heavily undervalued. The low price even allowed other projects to push it out of the top 10 list, with TRX currently being the 11th largest cryptocurrency by market cap. However, it is likely that TRON will not remain undervalued forever, and that its price might soon see a surge that its entire community has been waiting for, for a long time now.

Why TRX might see growth soon

As many undoubtedly know, TRON is a lot more than just a cryptocurrency. It has developed a massive ecosystem, which offers a development platform for coins, smart contracts, and dApps. It also acquired BitTorrent last year for its Project Atlas, which will allow torrent users to earn crypto through participation in content sharing.

For this purpose, it also launched BitTorrent (BTT) token, which saw its launch on January 28, 2019 on Binance Launchpad. This was dubbed the most successful ICO in history at the time, although several coins launched since then have broken its record.

In addition,…

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