MoneyGram and Ripple have had a long-standing partnership, with Ripple investing $50 million in the money transfer giant in 2019. As part of the agreement, MoneyGram used Ripple’s technology, xRapid (now On-Demand Liquidity) to send money while using XRP as a bridge currency. MoneyGram generated up to $113 million from the partnership in 2019.However, in 2021, MoneyGram suspended the arrangement indefinitely due to the SEC lawsuit against Ripple. Ripple explained to its community members that its contract with MoneyGram “is still in place and is not limited to their use of ODL”.Now that Ripple XRP has had its status cleared by a federal judge, it is expected that MoneyGram will reinstate the payment firm. If this happens, it may serve as a significant boost for XRP, which is currently not performing well due to a broad sluggish momentum in the market. On-chain analytic firm Santiment claimed that Ripple’s XRP, Litecoin (LTC), and Stellar (XLM) are leading the slight market recovery which began this week. With all of these relistings and reinstatement of strategic partnerships like that of MoneyGram, the price of XRP has the potential to hit new levels up to $5 in the long term.
| Information |
Details |
| Geography |
Global |
| Countries |
|
| Sentiment |
neutral |
| Relevance Score |
8 |
| People |
None |
| Currencies |
XRP, Bitcoin, Ethereum, Litecoin, MoneyGram. |
| Securities |
None |
