Ripple Whales Race to Remittix ICO After Analysts Call It the ‘Next XRP’ Forecasting 12,000% Growth

Ripple whales have been busy, scooping up tokens in a new DeFi presale project called Remittix. Remittix was recently labeled the "next XRP" by analysts as they predicted a whopping 12,000% surge during the next cycle. 

The hype has speculated that prominent Ripple investors are diversifying into the new cross-border payment platform. 

Amidst these forces, XRP itself is facing key support and resistance levels. In this article, we examine Ripple's recent price trend, the Remittix presale hype and why the two are now being compared in the crypto market.

Ripple: Can XRP Extend Its Recovery?

Ripple price retraced its daily support at $1.96 on Tuesday prior to surging 7.40%. At the time of writing, XRP was changing hands close to $2.20 in Wednesday's session, signaling a short-term recovery. 

Provided that the support is held, XRP can climb towards the $2.72 resistance level, which would be certain to trigger fresh bullish momentum.

Technical indicators are providing conflicting signals. The daily chart RSI is 44 and rising but still behind the neutral 50 level. Some analysts are not yet willing to call a sustained rally yet until the RSI closes above 50 convincingly. Also, a fall below $1.96 would also promote further drops with a possible revisit of the February 3 low at $1.77.

In spite of these uncertainties, Ripple whales are unfazed. On-chain metrics reveal whale wallets still accumulating, possibly hedging a future breakout. 

Yet the same metrics also reveal some bigger investors diversifying into newer projects like Remittix, a trend that attests both to confidence in Ripple's cross-border story and to an openness to fund new projects capable of transforming the face of global payments.

Remittix: The DeFi Token Turning Heads

Remittix (RTX) has gained popularity so fast as a cross-border payment solution, with many likening it to Ripple due to its remittance-oriented approach. Over 518 million tokens have been sold by the project in presale for more than $13.8 million at a presale price of $0.0734.

At the core of Remittix's success lies the platform's capability to exchange more than 40 cryptocurrencies to fiat and send money to any bank worldwide without the underlying charges that come with standard wire transfers.

Leveraging local payment networks, Remittix reduces the time for transactions to hours from days, eliminating the conventional friction. The platform's pay API, nonetheless, allows businesses to settle in fiat while making several crypto payments effortlessly, with all transactions recorded on a public ledger to combat fraud risks.

As a case in point, imagine a Filipino freelancer trying to invoice a European client. Rather than going through the exorbitant fees and days-long delays of traditional bank wires, they might instead ask to be paid in stablecoins or some other widely traded cryptocurrency.

 Remittix would then exchange those funds into the freelancer's local currency usually within a day and directly deposit it into their bank. This frictionless process saves both parties time and money, illustrating why many regard Remittix as a true disruptor in the $190 trillion remittance industry.

Could Remittix Eclipse XRP in the Long Run?

The hype surrounding Remittix is due to the fact that it is like XRP's fundamental purpose: rebuilding cross-border payments. Yet, Remittix has been focusing on retail consumers and SMEs right from the beginning, perhaps expediting adoption. 

In the risky universe of crypto, similarities between XRP and Remittix point to an overall trend towards practical use. Investors are showing that they will support projects with real value, whether freelancers getting paid by clients earlier or multinational companies simplifying cross-border payments. 

Discover the future of PayFi with Remittix by checking out their presale here:

Website:https://remittix.io/

Socials: https://linktr.ee/remittix