Remittix (RTX) Raises a Staggering $14.4M in Presale, Targeting a 100x Return

The joint decision of Ripple Labs and the U.S. Securities and Exchange Commission to suspend appeals and pursue a negotiated resolution has ignited positive optimism among market participants.

The joint decision by Ripple Labs and the U.S. Securities and Exchange Commission to suspend appeals and pursue a negotiated resolution has brought positive optimism among market participants. As analysts believe the market conditions and developments are perfect for a bull run for XRP price action and they see $5 as just the beginning of what awaits the asset.

At the same time, Remittix (RTX) is easing its way into the spotlight. This new payment network is still in its presale phase and has managed to raise a staggering 14.4 million in investor capital within a short span of time. We will take a look at what’s driving investors to place their bet on Remittix and analyze XRP Price Prediction.

XRP Price Prediction

After years of legal delays and successive appeals, the Ripple community finally has a reason to cheer. On Thursday, Ripple jointly filed a motion to suspend their appeals and cross-appeals in 60-day delay. The suspension of the legal tussle, would see to a pursuit a negotiated resolution between the two parties. Market participants can smell an official settlement and are excited about this positive development.

Several analysts support a bullish scenario for XRP price action. One of them, Steph_iscrypto is increasingly bullish on the assets and gave several reasons to support his claim. According to him, the market conditions are perfect for a bull run. He cited that inflation is down to 2.4%, and rate cuts are incoming, which will lead to more liquidity entering the XRP market.

(Chart: TradingView)

Market metrics show that the asset is in the extreme oversold territory on the weekly timeframe. The last time this happened was last November which, XRP saw a sharp spike. Steph believes history is likely to repeat itself. XRP price is currently hovering within the $1.90 and $2.00 support area; from a chart perspective, the asset looks healthy.

Earlier in the week, sellers were finally able to break the key support at $2 and pushed XRP price towards the $1.6 level. Steph believes XRP is likely to see a surge if support holds on the daily time frame. He took a step further claiming bulls must be prepared to hold above $1.90 level, because a drop below this level, would lead to further drops towards $1.61 and $1.28.

Why Are Investors Relentlessly Accumulating Remittix?

Remitrix is a new PayFi project that managed to put up unbelievable numbers, amid a relatively wobbly crypto market. Over the last few weeks, its ongoing presale has raised over $14.4 million, selling well over half a billion $RTX tokens. Still going at a not-too-pricey fee of $0.0734 apiece, investors are still rushing the project. But why are they relentlessly accumulating RTX?

Remitrix provides a solution that will revolutionize how payments are made across borders. It lends users a platform to make direct crypto-to-fiat transfers to anyone anywhere in the world while guaranteeing zero transfer cost and same-day processing. Experts believe this utility will bridge a multi-trillion-dollar gap and will rival Ripple’s XRP in the long term. Moreover, there are plans to get listed on Coinbase and Binance before the final quarter; a 100x isn’t far-fetched at this rate.

Investors are also impressed by the project’s rapid progress. Despite only launching in April 2023, Remittix has already covered significant milestones. The project recently completed its first stage of presale and is now moving toward the next. At this rate, Remittix is poised to become one of the fastest-growing crypto projects in recent times.

As the project continues to gain momentum, we might see even greater interest in the project. From the project’s presentation, it is clear that it has a strong focus on building a sustainable and successful project in the long run. This is evident in the project’s commitment to completing all stages of its presale and getting listed on renowned crypto exchanges.