TRX Price Prediction: Can TRX Hit $1 in 2024?

#TRX

• TRX is trading above its 20-day MA, signaling bullish momentum
• MACD shows potential for upward movement despite recent bearish crossover
• Network developments and stablecoin launch provide fundamental support

TRX Price Prediction

TRX Technical Analysis: Bullish Signals Emerging

TRX is currently trading at 0.28710000 USDT, above its 20-day moving average of 0.277680, indicating a bullish trend. The MACD shows a slight bearish crossover but remains close to the zero line, suggesting potential for upward momentum. Bollinger Bands indicate the price is NEAR the upper band, which could signal overbought conditions or continued strength if the trend persists.

TRX Gains Momentum Amid Network Developments

TRON (TRX) is benefiting from positive market sentiment driven by network milestones and the launch of a Trump-backed stablecoin on its platform. These developments, coupled with bullish technical indicators, suggest growing confidence in TRX's ecosystem and potential for further price appreciation.

Factors Influencing TRX’s Price

Ruvi AI (RUVI) Gains Traction with Successful Audit, Outshining Tron (TRX) in 2024 Forecasts

Ruvi AI's recent third-party audit by CyberScope has solidified its position as a rising star in the cryptocurrency market. The audit confirmed the security and integrity of RUVI's smart contracts, boosting investor confidence in its projected $1 valuation—a target that surpasses current expectations for Tron (TRX).

The project's integration of blockchain and artificial intelligence, coupled with a liquidity guarantee from WEEX Exchange, distinguishes it from competitors. Market analysts highlight RUVI's transparency measures and institutional-grade security as key drivers for its outperformance potential.

Trump-Backed USD1 Stablecoin Launches on Tron Network with Initial Trading Pairs

Trading for USD1, a new stablecoin on the TRON network, has officially commenced with the first pairs now live on Sun.io, a decentralized exchange within the Tron ecosystem. The initial offerings include USDT/USD1, TRX/USD1, and NFT/USD1, enabling direct swaps between Tether, Tron's native token, and the newly minted stablecoin.

Justin Sun, Tron's founder, announced the launch via social media, emphasizing the platform's push to expand its DeFi footprint. HTX, formerly Huobi, has already integrated USD1 deposits on the Tron network, marking the first exchange to support the asset. World Liberty Financial, the entity behind USD1, is preparing an audit report and mobile app to bolster adoption.

Backed by U.S. Treasuries and cash equivalents, USD1 enters a competitive stablecoin market with political cachet—a rarity in crypto circles. The move signals Tron's ambition to carve a niche in dollar-pegged assets while leveraging its high-throughput blockchain.

TRON (TRX) Gains Momentum Amid Network Milestone and Bullish Technicals

TRON's native token TRX climbed to $0.2841-$0.2886, marking a 3.05% weekly gain as the network processed its 13 billionth transaction. Daily transaction volume averages 8 million, with Tether (USDT) transfers driving adoption in emerging markets.

Technical indicators flash bullish signals, with TRX trading above key moving averages and RSI at 63. The $0.29-$0.30 zone presents immediate resistance, while analysts eye $0.45 by year-end. Derivative markets show increased activity despite spot volume dipping 22.99%.

In Argentina and across Latin America, TRON's blockchain has become a de facto payment rail for stablecoin transactions, bridging the gap between unbanked populations and digital assets.

Will TRX Price Hit 1?

While TRX shows bullish technicals and positive news flow, reaching $1 would require a significant breakout. Key factors include:

BTCC analyst John notes: 'TRX has momentum, but $1 is a 248% rise from current levels. While possible in a bull market, it would require sustained buying pressure and broader crypto market strength.'