Tron saw some exciting movement in the market as its TVL managed to surpass every other blockchain other than Ethereum. Additionally, thanks to the SEC-Ripple decision TRX witnessed a significant boost on 13 July. However, short-term sellers could hinder this bullish stride.
. This was evident from its marketcap which just reached a new monthly high above $7.3 billion. This means its marketcap has grown by roughly $1 billion from its lowest level in the last four weeks.aided the recent marketcap push in the last 24 hours. This was well represented by the bullish volume surge following the Ripple news. TRX has been on a steady uptrend since the second week of June after bouncing off a long-term ascending support level.
TRX bounced back by over 5% on 13 July and was seen approaching its June highs. Surpassing this level will allow TRX to push into a new 12-month high. This rally occurred after Ripple won its legal battle with the SEC. A win that resulted in a resurgence of buying pressure across the crypto market.
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