Key Highlights
– Tron/Ripple market promises to have a turning point, possibly around a major demand zone
– Watch out for a bullish rally; the buyers are well-positioned to hijack the price and take it to a major supply zone
– The bull may be under pressure to take the price through to a major supply zone
– TRX XRP markets are long overdue to go up
Tron Market Statistics
-Market Capitalization: $1,564,290,238
– Trading Volume: $641,425,560
– Major supply zone: 0.020, 0.016, 0.021
Ripple Market Statistics
– Market Capitalization: $13,618,774,513
– Trading Volume: $1,907,669,141
– Major supply zone: 160,180,220
– Major demand zone: 120,110,100
TRX and Ripple Coin Price Analysis
The market is currently testing a major demand zone at 0.7511, and there is a possibility of the bullish rally to take effect from this zone. However, there are some elements of the bearish market left, but buyers are already deciding to hijack the price from bears for a massive bullish breakout towards a major supply zone at 0.10808. Technically, TRX and XRP are subject to a greater wave of buying pressure should the buyers manage to break the near-term supply zone at 0.09050
Chart Indicators Reading
From our analysis and chart, we spotted that a strong bullish reversal candle called “Pin Bar” is currently forming on the daily timeframe and Moving Average is also signaling for uptrend continuation. Therefore, buyers may rely on these two signals to make their trading decision.
General Outlook for Tron versus Ripple
Due to market condition and structure, it is advisable to look out for the bullish signal because the price of TRXXRP shows to have been oversold. The overall trend of this market is bullish for the very long term. But, Ripple looks more favorable pick for investors than Tron today as things stand.
Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
