XRP’s price is on the chopping block as the bulls and bears cut it both ways in a tug-of-war that could see XRP breakout past $3 or decline to lower support zones.
The recent breaking news about the rejection of the SEC and Ripple’s settlement motion has thrown a spanner in the works, leaving market watchers uncertain. XRP’s bullish outlook remains strong despite this procedural setback.
However, XRP’s bullish trajectory is nothing compared to Remittix’s RTX. This emerging PayFi protocol is reinventing cross-border payments in a move that has seen analysts forecast a 3,000% uptick.
XRP’s regulatory uncertainty resurfaces, but bullish sentiment persists
XRP’s price dipped slightly below the $2.50 mark after news of Ripple’s regulatory challenges emerged.
Image Source: Coingecko
According to reports, Judge Analisa Torres of the United States District Court rejected the joint motion filed by the SEC and Ripple seeking an indicative ruling on their proposed settlement.
The judge stated that the motions would be “procedurally improper.” However, Stuart Alderoty, Ripple’s Chief Legal Officer, confirmed that Ripple’s previous victories remain intact.
XRP’s price is now consolidating, with experts forecasting a fresh decline that could see it dip to lower support zones in the $2.350 area. This short-term bearish motion is seen as a bear trap by most analysts, even though the bears were able to push XRP’s price below the 100-hour Simple Moving Average.
Taking a monthly time frame, XRP’s price is up 16.2% with a clear breakout from an ascending wedge pattern that was formed after XRP’s precipitous downturn that started in April 2021.
Image Source: Trading View
The long-term outlook for XRP remains bullish despite recent setbacks, with the potential approval of XRP ETFs in July sparking excitement among members of the XRP community.
With the approval of XRP ETFs, market watchers expect XRP’s price to surge to a new ATH that could potentially surpass the previous $3.84 to reach $20.
Remittix’s RTX is on track to dominate cross-border payments
While XRP’s regulatory uncertainty leaves onlookers concerned about its bullish outlook, expert analysts have their eyes on Remittix’s PayFi protocol, which is set to disrupt a potential $250 trillion remittance market.
Remittix is an XRP rival as its PayFi protocol is designed to reinvent cross-border payments by bridging the gap between cryptocurrencies and traditional banking networks. With Remittix, a crypto holder can send funds to a recipient’s bank account across more than 30 fiat currencies. Remittix thrives on simplicity, such that the recipient only receives a bank transfer, unaware that the transaction started off from a crypto wallet.
What’s more, all Remittix transactions come at a flat fee with zero extra charges or hidden costs for conversions from crypto to fiat. Businesses can also facilitate crypto-to-fiat transactions and accept crypto payments from customers thanks to Remittix’s PAY API, which supports over 40 cryptocurrencies for flexibility.
Compared to XRP’s global payment solution, Remittix caters to regular retail users in the remittance sector, which is projected to lead the cross-border payment industry to a tune of $250 trillion by 2027.
Remittix’s ongoing presale has raised over $15 million, and with an allocation of only 50% of RTX’s total supply of 1.5 billion tokens, over 90% of this allocation is sold to early bird investors.
RTX is now priced at $0.0757, and the next stage of its presale will see the price increase to $0.0781. Analysts forecast a bullish outlook for RTX on launch, making now the best time to jump at discounted rates.
Discover the future of PayFi with Remittix by checking out their presale here:
- Website: https://remittix.io/
- Socials: https://linktr.ee/remittix
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
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