The Ripple (XRP) price has bounced back

Ripple (XRP) Price Races Past $2.2 As MoneyGram Partnership Announced

Shares of Moneygram International (NYSE:MGI) skyrocket after the company says it will test partnering with cryptocurrency Ripple on payments.

Ripple is a cryptocurrency (XRP) issued by a blockchain startup of the same name and has enjoyed an astonishing rise in 2018 following in the footsteps of bitcoin.

During the pilot, MoneyGram will utilize XRP, the native digital asset of the Ripple Ledger, with the aim to speed up payment flows through xRapid, Ripple's solution for on-demand liquidity. To put things into perspective, MoneyGram transfered over $600 Billion in cross-border payments in 2016. "Money transfer companies are incredibly important because they help people get money to their friends and loved ones", said Brad Garlinghouse, CEO of Ripple, in the release. Fees would be lower and the payment flows more transparent.

The move is critical when it comes to the plan that includes the utilization of XRP, Ripple's digital money, which has taken off in esteem yet in addition confronted inquiries concerning its viable uses.

Last June, Stefan Thomas, Ripple's chief technology officer, said that compared with the status quo of correspondent banking, XRP-based liquidity would seem like "gold that you can teleport into any vault in the world instantly".

House passes spy program after confusing Trump tweets
Last year, Trump accused the Obama administration of wiretapping Trump Tower during the 2016 presidential campaign. About 90 minutes later, the president issued a follow-up that attempted to walk back his original statement .

This shows that Ripple is emerging as a key supplier of technology support for money transfers not only to banks but also to other institutions having their own payments wallet.

The MoneyGram announcement gave XRP a shot in the arm.

The world's largest cryptocurrencies are struggling to stay in the green this week after a possible clampdown on exchanges by South Korean regulators sent the total market cap of all digital coins down by nearly 25%.

The value of numerous forms of digital currency fell Thursday after South Korea, a hotbed for currencies like bitcoin, said it was weighing a trading ban. XRP traded as high as $2.35 on Thursday morning before falling back to just above $2.00 by the early afternoon.

We may see the latter run into the end of the day as the cryptocurrency markets absorb the development and its implications for Ripple as a company and XRP going forward.

Related News:

  • No Steering Wheels Or Pedals For New Car — GM

    No Steering Wheels Or Pedals For New Car — GM

    The self-driving vehicles are meant to drive only in geo-fenced boundaries on roads where a high-definition map data was created. GM's submission explains how it will provide airbag protection for all Cruise AV occupants in the absence of a steering wheel.
    Donkey Kong Country: Tropical Freeze Will Release on Switch in May

    Donkey Kong Country: Tropical Freeze Will Release on Switch in May

    The Switch version includes the original game, plus a new beginner-friendly mode that lets you play as surfing simian Funky Kong. In addition, Funky is always accompanied with its surfboard, so you can use it to avoid the risky thorns that are in some areas.

    Kevin Durant second-youngest player to reach 20000-point plateau

    Sending a double at Lou Williams , especially given that his teammates were not good, would have slowed down his 50-point night. It would require a 34-6 finish (or a 70-win pace), but that's what most people expected from this team heading into the season.
  • Netanyahu-Putin meeting date to be agreed on soon - Israeli embassy

    Netanyahu-Putin meeting date to be agreed on soon - Israeli embassy

    Israel's Saare Tzedek hospital would be signing an agreement with India's ministry of health and family welfare as well. Israeli Prime Minister Benjamin Netanyahu will embark on a six-day visit to India, starting from January 14.
    Mystery around United States  military's secret satellite launch by SpaceX deepens

    Mystery around United States military's secret satellite launch by SpaceX deepens

    It was said that Zuma failed to separate from the second stage of the Falcon 9, broke up in the air and fell into the sea. An investigation is under way, but there is no initial indication of sabotage or other interference, they said.
    ARMAGEDDON? Walmart to RAISE US WAGES After GOP Tax Cuts

    ARMAGEDDON? Walmart to RAISE US WAGES After GOP Tax Cuts

    Walmart didn't explain exactly how the sliding scale will work, but said the total value of the bonuses will be $400 million . Target in September announced plans to raise its minimum wage by 2020 and now boasts an $11 starting pay.
  • Facebook shares drop after News Feed overhaul rolls out

    Facebook shares drop after News Feed overhaul rolls out

    It's Facebook's attempt to erase practically all news from the feed to give users a sense of community, not outrage and clickbait. Also, our content is more visible the more people share and comment on it, so if it's a story you care about it, please share it.
    YouTube cuts business ties with Logan Paul over offensive video

    YouTube cuts business ties with Logan Paul over offensive video

    Earlier this week, YouTube had promised "further consequences" for Paul following a now-infamous video featuring a dead body. The event has led many to question YouTube's policies , as well as how seriously and responsibly it addresses such problems.
    NFL London Games 2018: Ranking Solid Overseas Slate From Best To Worst

    NFL London Games 2018: Ranking Solid Overseas Slate From Best To Worst

    The Seahawks will face the Raiders , who are the "home" team in this one, on October 14 at the new Tottenham Hotpur stadium. The Raiders, the home team in London for a second time, welcome the Seahawks to Tottenham for their first game in London.
  • 11-year-old girl's hijab cut by man while walking to school

    11-year-old girl's hijab cut by man while walking to school

    The siblings said he had black hair with straight bangs to the eyebrows, a thin mustache and black prescription glasses. Ontario Premier Kathleen Wynne and Toronto Mayor John Tory also released statements condemning the attack.
    1400 cars ruined in Liverpool car park fire

    1400 cars ruined in Liverpool car park fire

    Lauren Elizabeth Addinall shared pictures showing the evacuation of the horses, adding that it was due to 'cars blowing up'. The Mayor of Liverpool , Joe Anderson , tweeted that not enough fire engines responded to the incident because of cutbacks.
    Sony Xperia XA2 hands-on

    Sony Xperia XA2 hands-on

    Three has also confirmed it will be stocking the XA2 but will announce pricing and availability at a later date. The Xperia XA2 and Xperia XA2 Ultra duo are powered by octa-core Snapdragon 630 processor and Android 8.0 Oreo.


Most liked

Trump cancels UK trip
The trip was not the controversial full state visit offered by Theresa May , for which no date has yet been set. In the meantime, the relationship between May and Trump has come under strain.

Suspect In Fatal Hoax Call Charged With Involuntary Manslaughter
Someone made a similar shooting-and-hostage-taking report at Finch's address and officers surrounded the home. But Siegenthaler said victims are often random and pranksters have even been known to target movie stars.

Vivo unveils first under-the-display fingerprint smartphone at CES 2018
Fingerprint sensor is prone to that and it is not a big secret that placing it under the display makes flawless sense. One lucky reporter had the chance test the new feature, but Vivo has yet to announce the official name of the device.

Vandenberg AFB launching Delta IV rocket
The mission - dubbed NROL-47 - is classified, so we don't know much about the payload and what it'll be used for once in orbit. Last month, a SpaceX rocket launch from Vandenburg during the sunset created a shimmering streak across the sky.

Karen Bradley appointed as Northern Ireland minister - PM May's office
The politician said he is expected to undergo surgery to remove a lung lesion. I trust James will have the surgery he needs and will make a full recovery.

Bon Jovi announces Salt Lake City tour stop on March 16
Bon Jovi announced that they are now adding a spring leg to their This House Is Not For Sale Tour ., and fans should be thrilled. Tickets will go on sale on January 19, but for those eligible for pre-sale events, tickets will be made available next Tuesday.

Factory activity quickens in Dec.: PMI
In line with stronger production growth, employment rose further and at the fastest pace since September 2014. Similarly, the Nikkei India Composite PMI Output Index rose to 53 in December from 50.3 in November.

Pep Guardiola facing injury crisis ahead of Watford clash
The first team to achieve this feat were Wolves in the Carabao Cup (in normal/extra time) but they ended up losing on penalties. Guardiola's Man City face their fourth match in 11 days when they go up against Watford on the 2nd January.

Twitch Buys Exclusive Overwatch League Streaming Rights for a Reported $90 Million
Also akin to traditional sports, these teams will be battling it out over a gruelling regular season and postseason schedule . In the second match of the day , the Shanghai Dragons arguably looked even worse than they did in the preseason.

Officers: Spike in variety of flu instances throughout New Mexico
As of December 30, there have been 27 reports of influenza-associated deaths in patients under 65 years old in California . The South Carolina Department of Health and Environmental Control is encouraging pregnant women to get their flu shots.

Nintendo Announces Mario Tennis Aces for Nintendo Switch
Action-RPG Ys VIII: Lacrimosa of Dana features rhythmic battles, large monsters, anime cutscenes, and base-building. SNK Heroines ~Tag Team Frenzy~ has players take control of some of SNK's most famous female fighters.

'Dark Souls: Remastered' Rekindles The Flame On May 25
The set collects all three Dark Souls games along with a host of extra stuff, but the price tag is a bit high. "Ports" was the key phrase during this Nintendo Direct, though some original games were also announced .

Hollywood Celebs Paint Red Carpet Black at Golden Globes
Host Seth Meyers said "Hollywood Foreign Press" sounds like three words created to infuriate Donald Trump . Here's how the NBC late-night comedian tackled the biggest issues of the night.

'Big Little Lies' Will Debut A New Character In Its Second Season
Nicole continued to gush: 'My achievements are her [Janelle's] achievements. In addition to her husband, Kidman also thanked her mother.

Arshi Khan is the surprise visitor with special powers
Shilpa cleared her stance on being the ' Maa' of the house; as Hina commented on Shilpa's strategy of running the kitchen. Some people understand and appreciate my sense of humour and some definitely don't get even close to understanding it.