After a period of rapid growth late last year and into early 2024, XRP has experienced a significant price correction, declining over 31% from its yearly high. As the digital asset struggles to overcome key resistance levels, another project, Remittix, is capturing investor attention with reports of substantial growth and an upcoming exchange launch.

XRP Momentum Slows Amid Fading ETF Hype

A primary factor impacting XRP’s recent performance is the cooling sentiment around a potential Exchange-Traded Fund (ETF). While initial discussions fueled market confidence, the lack of immediate progress has shifted momentum. The price chart indicates that XRP is now facing strong resistance, particularly around the $2.60 range, a level it has struggled to surpass since early October.

Although existing products like the REX-Osprey XRP ETF show healthy inflows, the broader market awaits approvals for other institutional-grade funds. Without a significant increase in institutional buying, traders believe XRP may have difficulty reclaiming higher valuations and overcoming its current bearish trend.

Remittix Aims to Carve Niche in Crypto Payments

In contrast to XRP’s challenges, Remittix has emerged as a project focused on streamlining crypto-to-bank account payments. The project’s stated goal is to simplify how digital currencies are used for real-world transactions, positioning its token as a key component in its payment ecosystem.

This utility-focused approach has reportedly driven considerable buying momentum, with the project citing a price increase of over 700%. According to the Remittix team, several upcoming developments are fueling this interest. These include a planned project announcement detailing ecosystem progress, a reveal of a new exchange listing to broaden adoption, and a notable surge in the number of wallets holding the token.