Cryptocurrencies

A Huge Win For Ripple

Ripple keeps scoring good points both in the media and in the fan-base with XRP, a leading cryptocurrency in the fintech payments industry.

Whether Ripple is a decentralized or centralized blockchain, who cares as long as they are adding value.  Regardless, Ripple and the token, XRP will also have a fanbase that supports their mission.  And it’s not just their fanbase that is supporting the token.

Back in January of 2018, Ripple partnered with MoneyGram, one of the world's largest money transfer companies to pilot XRP in their payment flows.  In July, Ripple made some noise by acquiring a stake in MoneyGram.

Well, it appears the pilot went very well because MoneyGram is going all in and recently announced that they are adopting Ripple’s xRapid payment, using XRP as the to fund transfers.

However, the announcement was nothing special as it didn’t move the needle in terms of XRP’s price and price has been sitting between daily supply and demand for quite some time.

Since mid-July, price has been coiling up and is about to break out.  A break out to the downside should bring in the buyers around $0.25 and a break out to the upside will be met with sellers at $0.40.

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

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