Ripple (XRP) is in the coming altcoin news for its relatively quick surge which mimicked Bitcoin’s growth – going up by 15.1% and emulating Bitcoin’s performance. Ripple has been described like a potential replacement to SWIFT by many websites – and the growing demand for the xRapid solution is definitely one of the hot topics.
For XRP investors, Ripple up by 15.1% means that widespread adoption is on its way and is the only route for better prices. The demand for Ripple will obviously fuel the next wave, propelling prices out of this 10 cents range towards 60 cents or higher.
The Ripple up scenario means that there is hype around the altcoin too. Some even say that XRP is a cheaper alternative with technology for the unbanked. Given the edge that Ripple as a platform has including speed, the entry of Libra will definitely not be a game changer.
However, Ripple must counter Facebook’s broad base, as many best cryptocurrency news sites note. The Ripple up initiative is not all that the altcoin needs to do that. As the altcoin news show, Libra could disrupt the existing financial and money transfer landscapes – and XRP could offer a way through.
One of the examples of the xRapid adoptions is with the company MoneyGram. Despite its struggles with financing, MoneyGram has leveraged xRapid as an option that is speedy, efficient and above all, beneficial for XRP investors in that demand will mostly come from their operations.
Price wise, Ripple up means that XRP bulls are on a roll. Even though they are struggling below the $0.50 level, there is a spike in activity and that level could soon be reached and passed. External events like the rise of BTC and fundamental factors favoring the use of xRapid are definitely associated with this rise.
The XRP is up – and the price of Ripple is expected to continue surging next week. If the bullish momentum by Bitcoin remains on the market, we could definitely see XRP going over the $0.50 mark and potentially coming closer to the dollar high.
As such, many aggressive traders are featured in the altcoin news for their readiness to make most of the Ripple up initiative and profit from the $0.60 target that many of them have set for the short term.
MoneyGram And Ripple Extend Their Partnership With $11.3 Million
"MoneyGram continued to expand its strategic partnership with Ripple as the first money transfer company to scale the use of blockchain capabilities."Nothing in the SEC filings state what Ripple's investment will be used for. Still, MoneyGram's agreement with Ripple has previously allowed it to use XRP and its blockchain product named ODL (On-Demand Liquidity) to facilitate cross-border payments.
"[MoneyGram] is compensated by Ripple for developing and bringing liquidity to foreign exchange markets, facilitated by Ripple's blockchain, and providing a reliable level of foreign exchange trading activity. The Company expects that this partnership, at scale, will reduce our working capital needs and generate additional earnings and cash flows."MoneyGram and Ripple already were in a financial tie. The two firms announced their partnership back in January 2018 when MoneyGram decided to integrate XRP into its payment system. In June 2019, we saw that the two firms entered into a partnership to collaborate on cross-border payments and foreign exchange settlements with digital assets. The blockchain news then showed that Ripple followed through with a $50 million investment, completed in November. Despite the close working relationship, not all money transfer methods are being handled by Ripple. Reports recently showed that MoneyGram unveiled FastSend, a service which allows for real-time money sending based on Visa. While Ripple is doing good by expanding its partnerships and actively improving its blockchain, the token is falling down just like many other altcoins. Right now, the Ripple news and XRP updates show that the coin is in a 8.33% decline, going to new levels at $0.2438 in the wake of a major selloff which occurred on the markets overnight. The total cryptocurrency market today is at $261 billion.
XRP Traders Turn Bullish, Price Could Reach $0.46: Analysis
“#Ripple CEO Brad Garlinghouse said that stressing compliance is key to getting bankers on board with #crypto. We don't need bankers to get involved in the crypto. Maybe he and his company do, but the space doesn't. Crypto doesn't need banks, because crypto will replace them.”Brad Garlinghouse was in an interview when he commented that there are too many crypto assets out there. There are about 3,000 different digital assets that are trading on a daily basis.
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