Binance’s BNB and XRP might be among the least performing altcoins of the top 10 coins by market cap this season. Where other altcoins have gained over 20% in the recent market rebound, BNB and XRP prices have struggled to break out of their consolidation phases, leading to paltry sub-20 % gains.
Granted, XRP’s price has broken out of its $2.3 resistance zone and is now meandering around a price of $2.5, as experts expect it to maintain an upward momentum if the buying pressure persists. BNB, on the other hand, has stagnated at its current price range with paltry gains of only 9.4% in the last month.
Could XRP’s price and BNB’s woes be due to this rising rival in the cross-border payment space? Remittix’s emerging PayFi protocol is already reinventing cross-border payments with a presale that has raised nearly $15 million in a brief spell.
SEC’s delay of XRP ETF approval slows down XRP’s price ascent
The SEC’s decision to extend the review period of Franklin Templeton’s spot XRP ETF, filling all the way to June 17th, might have contributed to XRP’s slow performance. While most altcoins have enjoyed gains above 30% with the recent market rebound, XRP’s price has only registered a 16.7% uptick in the last month.
Bullish sentiment is rising, but XRP’s price is struggling to breach the $2.55 resistance zone, having faced rejection twice at this zone.
Image Source: Coinmarketcap
Even Ripple Labs’ recent settlement with the SEC, where Ripple agreed to a $50 million payment, was not enough to trigger a bullish resurgence for XRP above $3. Could XRP’s previous hype about its role in the future of cross-border payment be waning?
BNB faces rejection at the $690 zone to settle below $650
At the beginning of May, BNB kicked off the month with a steady climb all the way to a price of $680 as onlookers anticipated it to break out past the $690 resistance into a price above $700.
However, BNB quickly pulled back amid increased selling pressure from the bears as its price rebounded to settle at $649. While analysts anticipate a much greater uptick for BNB this altcoin season, its slow ascent has given the bears more confidence, and even though BNB is breaking out of an ascending wedge pattern as seen below, caution is high among traders of a possible correction in the short term.
Image Source: Coinmarketcap
Remittix’s RTX presale shakes up the cross-border payment space
While BNB and XRP languish, a new player in the cross-border payment space is reinventing the game with a simple and accessible approach. Introducing Remittix’s RTX with its PayFi protocol set to disrupt a potential $250 trillion remittance industry.
Remittix is the future of PayFi. Its platform enables crypto holders to send funds directly from their crypto wallet to a recipient’s bank account seamlessly. The recipient receives precisely what was sent, as every transaction comes at a flat fee with no hidden costs or extra charges.
What’s more, the recipient doesn’t need to know the complexities of crypto wallets; therefore, any regular user who is not crypto-savvy can enjoy Remttix’s PayFi platform. This broadens the scope of Remittix, enabling mass adoption even in places where crypto payments are unheard of.
Remittix goes above and beyond retail users to cater to businesses through their Remittix PAY API, which enables merchants to accept crypto payments from their customers. This API supports over 40 cryptocurrencies, adding to the flexibility and ease of use that these merchants can enjoy.
With an ongoing RTX presale that has raised over $15 million, with more than 80% of RTX’s total supply of 1.5 billion sold to early investors, now is the best time to join the fray and become an early adopter of the future of 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
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Maisie is an experienced Crypto & Financial news journalist, having written for Moneycheck.com, Blockonomi.com, Computing.net and is Editor in Chief at Blockfresh.com
