The digital currency space is bubbling with a lot of bullish cryptocurrency news recently. Recently, Facebook announced the forthcoming launch of its own digital currency. The waves of this cryptocurrency news have not faded yet in the crypto space and more are still coming. Also, the Litecoin Foundation recently announced the launch of a physical digital currency debit card after partnering with Bibox Exchange. Another fascinating crypto news update is the recent partnership between Ripple and MoneyGram – an international payment processing company. All these bullish cryptocurrency news has been contributing to the growth of the entire digital currency space. More players are now making a debut into the crypto space, whereas, some that left the market are now returning.
This bullish XRP news created a Ripple effect in the crypto market. The partnership of Ripple and MoneyGram was all over the news. The partnership would see the money transmission firm use the XRP token. This would definitely increase the adoption of XRP and push the price of XRP higher. Many are expecting this partnership to have a huge impact on the price of XRP. While the price of XRP is yet to respond, the stock of MoneyGram is heading to the moon.
MoneyGram Stock Surges by 170% after Its Partnership with Ripple – When Will the Price of XRP Follow Suit?
After the recent Ripple investment news, the shares of MoneyGram have skyrocketed. The shares of the firm soared by more than 170 percent after the bullish cryptocurrency news about its partnership with Ripple. However, the price of XRP is yet to show a similar trend as it is still hovering around the 43 cents mark. Many digital asset investors and traders have been asking questions. They want to know if the price of XRP will follow the trend of MoneyGram and catch up with the world’s most dominant digital currency – Bitcoin (BTC).
In the course of the partnership with MoneyGram, Ripple invested the sum of $50 million in the company. With this move, MoneyGram will use XRP to facilitate international settlements. Ripple has always been pushing for the global adoption of XRP and other digital currencies. This move is a major milestone for Ripple in its pursuit for the global adoption and use case of XRP. A share of MoneyGram was about $1.45. After the bullish XRP news, the stock price per share of the firm surged to a high of $3.90, which is an increase of more than 170 percent.
When Will XRP Price Catch Up with MoneyGram’s Stock? – XRP Price Prediction 2019
When will the price of XRP meet up with that of its partner? Will XRP price recover in the short-term? When will there be some positive movements for investors?
I do not think the current price is fully reflective of the news being completely digested. Markets often under-react as people are initially anchored and info is not completely disseminated. This setup is worth taking, I think we see $XRP cover ground in the next two months. pic.twitter.com/vD3PXsByrj
— Cantering Clark (@CanteringClark) June 18, 2019
According to an analyst on Twitter, the price of XRP might recover significantly and catch up with its partner in the next two months. He said it will not take long, potentially about two months. He said when the bull run finally starts, the price of XRP will head for the moon.
XRP (XRP) Price Today – XRP / USD
At the press time, XRP USD live price is 43 cents after a decrease of less than one percent over the past twenty-four hours. The current market cap of the digital currency is $18.25 billion. The trading volume of the digital currency over the past twenty-four hours is $1.16 billion.