Ripple (XRP) and TRON (TRX) Prices Slide Despite Major Progress

The cryptocurrency market is trading in the red again today. Bitcoin (BTC) has just dipped below the $6,600 mark and Ethereum (ETH) is trading just above $225. Both Ripple (XRP) and TRON (TRX) are sliding down today, despite both announcing major news regarding their projects recently.

Let’s take a closer look at Ripple and TRON and their latest project advancements.

Ripple concluded its Swell 2018 conference last week in San Francisco.

#SwellbyRipple is a wrap for 2018! Thanks to all those who joined us in SF, and for those who missed it, find the highlights here:

— Ripple (@Ripple) October 4, 2018

In addition to the conference, the Money Tap app powered by Ripple’s xCurrent software just launched in Japan. There has been lots of movement for Ripple over the last two weeks. Less than 24 hours ago, the cryptocurrency project announced that David Schwartz, Ripple’s CTO, will be a featured speaker at SXSW 2019.

.@JoelKatz will be a featured speaker at #SXSW 2019! Learn more about his session here.

— Ripple (@Ripple) October 9, 2018

Ethereum’s co-founder and ConSynsys founder, Joe Lubin, will also be speaking at the conference.

Despite the positive news, XRP has been backsliding on the market this week. According to CoinMarketCap, XRP is currently trading at $0.469 a coin, down -1.24% in 24 hours. For the week, the cryptocurrency is down -10.83%.

>> Ripple’s xRapid Expands into Commercial Production

The TRON Foundation is currently voting on the release of the TRON Virtual Machine.

27 SRs are currently voting on the activation of the #TVM onto the new version of the main net. We require 2/3 votes to pass the proposition. $TRX

— TRON Foundation (@Tronfoundation) October 9, 2018

There seems to be some confusion among the cryptocurrency community, as TRON’s Founder Justin Sun has said one thing while the TRON Foundation is tweeting something different.

As you can see below, the TRON Virtual Machine was supposed to already be launched by now (according to Sun), but the TRON Foundation says voting is still taking place. It seems Sun may have jumped the gun on the announcement dated on the seventh.

Based on community consensus, #TRON will be upgrading to Odyssey 3.1 at 8pm SGT. The TRON Committee function & TVM will go live, marking the start of the Smart Contract Era. TRON will be 200x faster vs. ETH, 100x cheaper vs. EOS. dApp developers & users, this one is for you! $TRX

— Justin Sun (@justinsuntron) October 8, 2018

So, has Odyssey 3.1 been released yet? Doesn’t seem so.

Despite the confusion, the TRON Foundation is trucking along as usual and has announced its new developer suite.

New developer suite available: TronBox, TronGrid, TronStudio & TronWeb. Developers are now fully equipped to build the best Dapps on #TRON! We are also excited to announce that we officially enter the Smart Contract Era following #TVM main net new version

— TRON Foundation (@Tronfoundation) October 9, 2018

This will go live once the TVM is released on the new mainnet version.

According to CoinMarketCap, TRON (TRX) is currently sitting as the eleventh largest cryptocurrency by its total market cap. At the time of writing, TRX is currently trading at $0.0250 a coin, down -1.85%.

Check back in for more news from coins like Ripple (XRP) and TRON (TRX).

Featured Image: Depositphotos/© volodymyrshtun

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