Ripple Wants to Extend Its Investment Arm to Several Other Firms after Investing In MoneyGram

Ripple Inc. is one of the most outstanding blockchain firms in the blockchain industry. The firm has only been in existence for a few years but it is now competing with some of the top payment firms that have been around for decades. When it comes to international payments that are fast, secure, cheap, and convenient, Ripple is the number one choice for many banks and financial institutions. A lot of banks and financial institutions are in partnership with Ripple, using some of the products of the firm to process cross-border payment in a fast and more efficient way.

Ripple has bagged a lot of mouthwatering partnerships over the past few months. The firm has also made some fascinating investments in some top firms. A few months ago, Ripple Invested the sum of $30 million in MoneyGram – a giant in the money transfer verse. Ripple does not want to stop there, the firm is looking forward to multiple investments in other top firms.

Ripple Set to Sign Multiple Investment and Acquisition Deals – Best Cryptocurrency to Invest in 2019 – Cryptocurrency News Today

The recent investment of $30 million in MoneyGram by Ripple shock the entire crypto space for quite some time. The news was all over social media platforms and crypto news outlets. The news didn’t have much effect on the price of XRP – the native currency that runs the Ripple network. However, many believe that it would have an impact on XRP USD price in the future.

According to a recent report, Ripple Inc. is looking to sign multiple investment and acquisition deals. In an interview with Yahoo Finance UK, the CEO of Ripple – Brad Garlinghouse – said:

“We are in a very strong position, our business is growing strongly, we have a strong balance sheet, and I intend to use our advantage.”

The CEO of Ripple did not disclose any specific information about potential deals or investments, as these things are somehow difficult to predict. After investing $30 million in MoneyGram, Ripple plans to invest an additional $20 million in the next two years.

In the second quarter financial report of MoneyGram, the firm announced that it has started carrying out transactions on the xRapid blockchain platform of Ripple. xRapid is one of the few products of Ripple. xRapid is used for cross-border settlements and it uses XRP (XRP) – Ripple’s native currency.

XRP Price Analysis – XRP News Today – Cryptocurrency Market Update – Cryptocurrency News Today

The adoption and use cases of XRP is gradually increasing. With MoneyGram now using XRP-powered xRapid, it means the digital currency would see an upsurge in adoption. This is supposed to boost the price of XRP enormously. However, XRP USD price is struggling below a long-term resistance level. XRP USD price just broke below the 30 cents support at the time of writing.

The immediate support of XRP is at the 29 cents mark. Whereas, the digital currency is facing immediate resistance at the 31 cents level. XRP has been trading sideways for the past few days, and the bulls have not been able to push the coin over its range-bound.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.274
-5.75%

At the press time, XRP USD live price is $0.2995 after a decrease of about three percent over the past twenty-four hours. The current market cap of the digital currency is $12.85 billion. The trading volume of Litecoin (LTC) over the past twenty-four hours is $927.48 million.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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