Bitcoin, the largest crypto asset in the market, usually sets the pace for investor behaviour and overall market sentiment. The recent pullback in Bitcoin price trajectory has triggered a wave of retail profit-taking, putting cryptos like XRP on the brink of price slippage. Remittix (RTX), on the other hand, is beginning to benefit the most from the recent market cool-off, seeing the majority of retail attention and capital flows.
Traders and investors are not relenting in entering early and in the accumulation of RTX tokens. On-chain data confirms the project has reached the $20 million milestone in its ongoing ICO, and experts believe this is only the start of RTX’s journey to bridge a multi-trillion-dollar market. In the following sections, we will take a closer look at Bitcoin price dynamics and how it affects both XRP and Remittix this cycle.
Bitcoin Price Struggles to Hold Momentum
After rebounding from the $112,000 level in early August, Bitcoin quickly reclaimed ground and even set a fresh all-time high of $124,500. But the rally was cut short as the asset failed to close above the $123,200 resistance and pulled back after hotter-than-expected PPI data. A separate trigger came from the Treasury Secretary’s remarks on the Bitcoin Strategic Reserve, which added further pressure.
Source: TradingView
As of writing, the Bitcoin price is consolidating near $117K, but short-term holders have been actively taking profits. Still, analysts remain confident that the broader uptrend is intact. Many are targeting $150K to $200K by year-end, meaning any near-term correction could serve as a healthy reset before another price jump.
XRP Facing Crucial $3 Support Test
XRP is quietly sitting at a key support level that could define its trajectory in the weeks ahead. Analysts warn that if XRP breaks below the $3 mark, it could see a 20% decline, with analysts hinting at weakening momentum. Recent reports point to a disconnect between its transaction activity and its payment volumes, prompting questions about whether the recent rally may have been overextended.
Moreover, on-chain data shows that about 94% of current holders are in profit, a scenario that often leads to increased profit-taking. For now, traders are keeping a close eye on Bitcoin price action, as further weakness could trigger a deeper pullback for XRP as well.
Remittix Hits $20M Target
Remittix offers a solution like no other in the market, enabling users and businesses to facilitate instant, seamless crypto-to-fiat transfers from anywhere in the world. And the interesting part is that cross-border transfers would be direct, without unnecessary transactional charges.
The recent pullback in Bitcoin price has given bears the upper hand against bulls for several alts, but the same cannot be said with Remittix (RTX). Rather, retail accumulation has intensified with the hope for a possible 50x rally this cycle. Experts believe that when the project officially enters the market, it will mirror the ICO success story, which has just hit the $20 million target.
Remittix have also just announced their first CEX listing, which is BitMart. And with Bitcoin and Ripple’s XRP testing near-term support levels soon, making RTX a promising alternative for savvy investors, offering real utility, a robust roadmap, and a well-defined growth strategy.
Discover the future of PayFi with Remittix by checking out their project here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
$250, 000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway
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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
