The momentum in the XRP price is gradually catching on as the price returns above $2.80 support after the late August correction. Further, the XRP trading volume is still showing a lag as investors back a new PayFi altcoin that experts project could see 10x this September. The rising support for this new PayFi solution indicates that the XRP price surge could be delayed, even amid the ongoing volume rise.
Here’s a better look at the XRP price setup for September and how this new PayFi altcoin could achieve a 10x spike this month.
How Rising Trading Volume Could Affect XRP Price This Month
One important concept to understand regarding the rising trading volume is that it does not necessarily translate to increased buying. The trading volume is a combination of buying and selling volume, with little attention given to distinguishing between the two.
Also, the XRP price has benefited from the surging volume lately as the price reclaims $2.8 support. But, the price has remained more in a consolidation for the last few weeks. As a result, analysts believe the coin could be losing decisive buying inflow to take it beyond the current zone.
The analysis of the XRP price this week shows that much of the traded volumes could be exchanging the ripple coin for another. Whereas, while the XRP price maintains a stand at the $2.8 support, the continuous outflow could see it lose its hold.
Furthermore, the growing support for a new PayFi coin is causing a stir that continues to shake the XRP price. While the XRP price maintains its $2.8 support this week, next week could see it extend upward to $2.95. However, losing current support could signify massive outflow, potentially dropping the price to $2.51.
Why This PayFi Altcoin Could Pose A Threat To XRP Price This September
The Remittix token has continued getting more mentions as the XRP 2.0 in the last few weeks, as analysts say it poses a big threat to XRP. This is because the Remittix solution creates better opportunities for cross-border payments that target all crypto users.
While the Ripple solution focuses more on interbank remittance, Remittix is more about helping users pay crypto as fiat currencies to a bank. But the launch of the project’s beta wallet this month is set to take it on a 10x pump.
Here is why the wallet launch is more significant for the Remittix September pump:
- It gives early access to users to test the project proposition
- Facilitates an ease of token accumulation
- An opportunity to expand the Remittix presence across platforms
With the current price at $0.103, the token price projection is set for a 10x surge by the end of September, as the wallet is scheduled to launch by September 15.
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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