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The Ripple price is sure taking its time with a spike, as the token has slipped into correction all week. Despite the apparent settlement of the ongoing lawsuit with the SEC and the hype around XRP ETFs, Ripple doesn’t seem to be on an uptrend just yet.
There may be several reasons for Ripple’s non-responsiveness to the positive sentiments around the project, but one of them is definitely competition from Remittix, the budding PayFi project. Remittix’s potential places it as a top choice for investment, and it’s use cases are attracting traders from all over the crypto market.
What’s new about Remittix, and how is it a competitor to Ripple? We have answers here–stay tuned!
Ripple Labs Settle For $50 Million Fine
The Ripple Labs project has reached a fine settlement with the SEC, following the resolution of the four-year civil lawsuit over Ripple’s sale of unregistered securities in 2020. The SEC initially appealed a court ruling absolving Ripple of the charges in 2023, but with the changing crypto policy landscape in the crypto market, Ripple Labs has had a relatively easy settlement.
According to reports, both parties have agreed to a $50 million fine, in contrast to the previous $125 million speculation. With Ripple dropping the cross appeals on its end, the case is getting resolved real quickly, and the XRP token is almost free to surge in the crypto market already.
The news of the SEC dropping charges last week helped the Ripple price to a new spike, as the token crossed the $2.50 mark on Thursday last week to mark a weekly high before correcting. Now, Ripple is valued at $2.38, with over 3% losses in the past week.
However, that’s not to say there are no incentives for a bullish wave on Ripple.
Ripple Price Prediction: XRP ETFs Keep The Hype Up
Despite enjoying favourable conditions in the crypto market at the moment, the Ripple pricehas not moved according to most token holders’ expectations. The token is in weekly losses, even while possibilities of Ripple ETFs launching this year increase.
Polymarket traders already place the likelihood of fast-tracked XRP ETF approvals on 85%, as Ripple already eyes a deal with asset manager BlackRock. Between the resolution with the SEC and the hype on the Ripple ETFs, there might not be a better time for the Ripple price to be revived.
There’s potential for a slump too, especially if the XRP value drops below $2.34. FXStreetanalysis shows that the support level for now hangs at $1.97, from which rebounds are possible. But even with a dip to the support levels, Ripple is still in line for a rally when the ETFs are approved for trading.
And while the Ripple token grapples with the bears, a new PayFi project has come to the center stage. Remittix (RTX) has a thing or two to fix on crypto withdrawals.
Remittix Looks Set To Edge Out Ripple in PayFi Race
The PayFi space has just got a lot more competitive with Remittix’s entry. Previously, we had Stellar and Ripple dominate the sector, even while both projects are not exactly modified for traders’ use.
Currently, banks and other financial institutions use Ripple and Stellar more, as they process large sums via both blockchains. That leaves the crypto users with very little options in the way of crypto transfers–that’s where Remittix comes in.
Remittix won’t simply be offering a payment portal use case for crypto folk; the project intends to make direct crypto-fiat transfers possible through its APIs. It will be as easy as transferring tokens from one wallet to the other–only a smart contract is embedded within the API to convert the cryptos into appropriate fiat currencies.
Essentially, the Remittix platform will allow crypto users to make more use of their crypto assets directly from their hot wallets. Traders will be able to pay for goods and services right out of their wallets and send money abroad, all without any signs that the transfers originated from a blockchain.
Remittix already has quite the reach too, with over 30 fiat and 40 cryptocurrencies supported on the platform to cater for even more traders. The transactions are typically fast, safe, and private, embodying all the positives of the blockchain technology.
Traders simply can’t wait to get started on Remittix.
The Remittix Presale is Live!
RTX coins are up for sale at the moment, with each one going for $0.0734. There’s a potential for presale returns, if you’d enter the presale early, but the big catch comes after the Remittixplatform goes live.
Experts tip the token for 130x returns–that’s a run that no one wants to sit out. Buy your RTX coins today and anticipate the token rally.
Join the Remittix (RTX) presale and community:
Join the Remittix (RTX) Community
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
