There have been speculations about a potential partnership between Ripple – a San Francisco-based blockchain startup – and MoneyGram – an international payment processing company. The news about the partnership created some kind of bullish sentiment for XRP (XRP) – the native token of Ripple. The price of XRP amassed a considerable level of gain after rumors about the partnership spread across social media platforms. This also resulted in some analysts releasing some bullish XRP price prediction 2019, as they believe the partnership would have a significant effect on the price of XRP. However, this bullish XRP news today is no longer a rumor. The news has been confirmed, and there is something between these two top firms.
Crypto News Update: Ripple Acquires about 10% of MoneyGram – Will XRP Price Prediction of $1 Come to Pass?
According to a recent report, Ripple just acquired about 8 to 10 percent of MoneyGram. The firm bought shares worth $30M at $4.1 per share in MoneyGram. This partnership will ensure that Ripple will become the fundamental service provider for international settlement and foreign exchanges using digital assets. Ripple’s XRP-based product – xRapid – will be the digital asset that will be used. Ripple has been pushing for global recognition and mainstream adoption. This partnership is a major step towards the dream and vision of Ripple. This would attract more digital asset investors to XRP. The adoption and use case for XRP will increase, and this would result in an increase in the price of XRP.
MoneyGram has been using banking services to carry out transactions they initiate. MoneyGram has to collect loans to boost the required liquidity as a result of the difference in time of settling transactions. Nevertheless, by partnering with Ripple, the firm will be able to take advantage of the liquidity of XRP to offer its customers faster and cheaper settlements. In a statement, Alex Holmes – the CEO and Chairman of MoneyGram – said;
“Through the xRapid product of Ripple, we will be able to instantly settle funds from US dollars to destination currencies on an all round the clock basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”
The success of this partnership is very important for MoneyGram because the firm has been experiencing a great loss over the past years. Back in 2018, the firm lost about $24 million. In the fourth quarter of 2017 alone, the firm lost about $29.8 million. Hence, its partnership with Ripple is a very crucial move on the firm’s roadmap.
XRP News today: XRP Price Surges 5 Percent After the Confirmation of the Partnership – XRP Price Prediction 2019
The price of XRP surged significantly after the news about Ripple’s partnership with MoneyGram. XRP USD price was around the 43 cents level, but it surged to the high of 46 cents after the announcement. This is an increase of more than five percent in less than a day. Some digital asset investors and analysts believe that this partnership will further boost the price of XRP by 30 percent in the next couple of days.
XRP (XRP) Price Today – XRP / USD
At the press time, XRP USD live is $0.045 after an increase of about 4 percent over the past twenty-four hours. The current market cap of the digital currency is $18.91 billion. The trading volume of the digital currency over the past twenty-four hours is $2.19 billion.