Global remittances is a massive industry worth over $10 trillion. But due to its centralized architecture, cross-border payments are still slow, expensive, and downright frustrating at times. The industry is ripe for a decentralized solution, and that is the slot PayFi protocols Remittix (RTX) and Ripple (XRP) aim to fill.
For sure, both projects look set to capture a chunk of the global remittances market share. But which of these tokens is the superior investment option?
How Remittix solves cross-border transactions
Remittix is a simple protocol that performs a simple function. It cuts out middlemen in crypto-fiat transactions using smart contracts. This allows anyone to send crypto anywhere in the world, with the recipient getting fiat in traditional bank accounts.
To make this happen, Remittix bridges local payment networks with blockchain ecosystems, making it possible to streamline crypto-fiat transactions. This is the reason it supports over 50 different crypto tokens and more than 40 fiat currencies.
In this manner, Remittix overcomes the niggling issues facing global transfers. It is faster, cheaper, and more efficient than traditional alternatives. That is why it is regarded by many as the future of cross-border remittances.
Ripple expands as regulatory scrutiny lessens
Ripple terms itself as a decentralized, open-source blockchain used to facilitate fast, low-cost international payments. It is the fourth largest crypto token by market cap and even though it has endured a torrid past, XRP keeps marching on.
The project recently expanded to the United Arab Emirates, extending its network of international payments to the untapped region. In addition to that, the regulatory scrutiny on XRP has lessened significantly, with a judge recently ruling that the SEC lawsuit will now only target Ripple the company, not the token.
XRP price in the last 3 months. Source: CoinGecko
However, in spite of these positive developments, XRP price is yet to lift off. The token currently sits around $2.0 and has depreciated more than it appreciated in the last couple of months.
XRP price prediction: Is a breakout on the horizon?
The XRP price is forming a potential base above $2.0 as support. Trading volume spikes in recent days suggests accumulation behind the scene. As a result, a break above the 10-day and 20-day moving averages near $2.1 would confirm short-term bullish momentum.
Source: CryptoWizard/CoinMarketCap
Crypto analysts say Ripple would need to stay above this level to hit the next resistance zone around $2.30. Increased institutional interest, such as surging trades of XRP futures on CME, could be the catalyst to a spurious rally XRP holders have been waiting for. When this happens, XRP price could soar to new ATHs above $5.
Why RTX offers bigger upsides than XRP
Remittix and Ripple are both cross-border crypto payment solutions, but RTX edges XRP in a few ways.
First of all, Remittix appeals to both retail and institutional entities. Retail users can use it as a p2p payment network while merchants can leverage its PayAPI to facilitate crypto-fiat invoices and other sorts of enterprise transactions.
In addition to that, Ripple has hit peak market saturation. Even though the project is expanding, the effect is not felt on the XRP price. Remittix, by contrast, is just starting out, and it has loads of room for growth.
Finally, Remittix doesn’t have the bad reputation that XRP has endured for years. It doesn’t have regulatory scrutiny hovering over it, and as such, looks set to cause massive shakeups in the global remittances market.
Don’t miss out on Remittix
Apart from beating XRP on several metrics, Remittix also has an extremely attractive entry level price. The presale token is currently going for $0.0811, and given its massive potential, looks set to fetch early investors as much as a 100x profit. That is why no savvy investor would want to miss out on it.
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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