TRON price (TRX/USD) surges to one-week high on Monday

The TRON price (XRP/USD) has hit a one-week on Monday thanks to an unexpected spike that occurred in the morning portion of the session.

Like many of its crypto rivals, TRON saw some lacklustre trading over the weekend, especially on Sunday, when its price posted some losses. Having opened that session at $0.0261, the coin gradually descended to an intraday low of $0.0252, before eventually finishing the day at $0.0254.

TRX was able to held around this level during the opening hours of today’s trading, giving the impression that it was going to be another relatively quiet session for the coin. However, at roughly 08:15 GMT, the coin experienced a big spike that propelled it price above the $0.028 barrier. As a result, TRX hit a one-week high of $0.0286, according to data from digital currency tracker Coinmarketcap.

The reason for the spike wasn’t immediately clear and the TRON price has since undergone a significant correction. However, it has managed to retain some of the progress made during the initial price surge. At the time of writing, the TRON price was hovering around $0.027 mark.

Meanwhile, TRON has seen a significant improvement in terms of market activity. Recent market data shows that nearly $325 million worth of TRX tokens have changed hands over the past 24 hours. Notably, OEX, a lesser-known top 20 crypto exchange (by trading volume), has been by far the most popular destination for TRX trading, having captured 17.3% of that volume. TRON is currently changing hands at $0.027 on the exchange, which is roughly in line with prices listed on other major crypto trading platforms like Binance and Huobi.

In today’s trading, the TRON price stood at $0.0269, as of 16:07 GMT. The digital currency has gained 4.3% in the past 24 hours. Its total market cap currently stands at almost $1.8 billion.