Ripple News Today – A while ago, the price of XRP enjoyed bullish trading shortly after rumors started circulating that Ripple was making plans to acquire MoneyGram. This news didn’t come as a surprise as MoneyGram had initially held a proof-of-concept with Ripple in 2018. Now, Ripple has given details about its interest in MoneyGram stating that it has poured $50 million in investment into the global remittance company. In return, MoneyGram may be propelled to use the XRP token for its international transfers. How will this move affect the price of XRP? Is MoneyGram the vehicle that will drive XRP to mass adoption?
Ripple News Today – XRP News Today – MoneyGram Is The Key To Ripple’s Global Adoption
According to the Ripple news, Ripple will initially pay $30 million for a 10% stake of MoneyGram. In the next two years, MoneyGram can decide to get another $20 million from Ripple. In 2017, Ant Financial, a China-based financial services firm, wanted to acquire MoneyGram. After the acquisition, the market valuation of the company would have been as high as $1.2 billion. Unfortunately, this move was blocked by the Trump administration. The Silicon Valley tech company, Ripple, paid $4.10 per share and their acquisition of a 10% stake led to a significant surge in the value of MoneyGram’s shares.
This move is going to help boost adoption for XRP. Over the years, this has been one of the primary goals of Ripple, to make XRP the most south-after digital token in the space. The fact that MoneyGram is going to use XRP is a big deal. It will propel other companies that offer similar services to look into Ripple’s technology. When XRP token reaches mass adoption, it is also going to get a boost in price due to the increase in demand.
XRP (XRP) Price Today – XRP / USD
MoneyGram may be using the famous xRapid protocol which uses XRP to source liquidity on demand. This would be the first time that xRapid will be used on such a large scale. A while ago, the company announced that it had ended its trial with xRapid because it didn’t see any material savings benefits to using xRapid.
XRP News Today – XRP Price Prediction 2019 – XRP Latest Update – Current Price Of XRP
At the time of writing. The price of XRP was $0.448019. This means that it was up by 4.21% against the USD and up by 2.78% against the BTC. The trading volume over a 24 hour period is $2,135,281,528 and the market capitalization is $19,041,660,492. The MoneyGram news is one of the factors that is driving the XRP bull run. While the entire cryptocurrency market is enjoying a positive boost, XRP is being particularly influenced by this news. If the price of XRP is able to surge above the resistance at $0.46, it will have the momentum required to hit the $0.50 near-term. Long-term, the price of XRP can test new highs before the end of this year.
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