A China-based travel company is planning to accumulate a $300M XRP reserve. This has left market pundits dishing out bullish XRP price predictions, with several analysts arguing that the resulting supply crunch could drive the asset price upwards.
Can the XRP price blow past $3 as new rivals emerge to challenge its dominance in the cross-border payments market? Let’s find out!
XRP’s price continues to stagnate
Ripple’s XRP made waves in January when it climbed back to its 2021 levels in the $3.4 region, returning a mouthwatering 750% yield from its last year’s lows of $0.4.
This was followed by a protracted slump that pushed the XRP price back to the $2 zone, where it has been posting sleepy price action for months. However, experts argue that the asset might have just received the right trigger event that could push this sleeping giant out of slumber.
Webus International to lock up $300M in XRP
Webus International, a Chinese travel booking firm, is planning to allocate up to $300 million to create a massive XRP treasury. Recently, the Nasdaq-listed firm filed a Form 6-K with the SEC, informing the regulator about its plans to add the XRP token to its treasury reserves.
According to the filing, the firm has partnered with investment advisor Samara Alpha Management to facilitate the acquisition of its XRP stash. What’s more, Webus plans to integrate Ripple‘s high-speed blockchain infrastructure into its travel platforms, unlocking near-instant, low-cost cross-border transactions for its clients.
This development comes just a few days after the Dubai International Financial Center started leveraging Ripple‘s platform to enhance financial efficiency with same-day dollar settlements.
XRP price prediction: Will XRP smash $3?
Analysts now posit that the Webus $300M XRP reserve could push the demand for XRP through the roof, driving the asset price to above $3! Some even estimate that XRP could reach $10 if the RippleNet continues its charm offensive in the financial circles.
Per recent XRP news, Ripple‘s RLUSD stablecoin has gained regulatory approval in Dubai and New York for use across payments, asset custody, and real estate, with the ECB’s Digital Euro pilot leveraging the XRP Ledger for high-speed settlements.
These, among many other bullish developments, are likely to supercharge the XRP price to dizzying heights.
Investors are also piling into XRP rivals
If there’s one thing putting a ceiling on XRP’s upside, it’s its already large market cap of nearly $130 billion. That’s why the asset is expected to enter a sluggish growth phase and might take time to smash $3 or $10.
Smart money investors are now holding XRP for small, steady gains while piling into low-cap XRP rivals like Remittix (RTX) for mammoth yields. While XRP targets large financial institutions, RTX brings faster and cheaper crypto-powered cross-border payments to retail investors and small business communities across the world. That gives Remittix a unique value proposition and a niche market in the massive $194 trillion cross-border payments sector.
Top market analysts now forecast that this emerging PayFi token could cut out a huge chunk of this treasure chest of cash, returning over 100x to early adopters as the platform’s market cap rises to hobnob with XRP’s.
In the past few months, whales have gobbled up over 541 million RTX tokens, pushing the Remittix presale past the $15.5M mark. Investors are strongly advised to check out the RTX ICO and grab shares of this emerging growth beast at the $0.0781 discounted price before it skyrockets out of reach.
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Website: https://remittix.io/
Socials: https://linktr.ee/remittix
