United States – This year, Ripple has been building stronger relationships with remittances firm like MoneyGram. According to the recent report, MoneyGram holds $9.3 million in XRP incentives during 2020’s third quarter. On Wednesday, the company revealed that Ripple paid $9.3 million, but the $400,000 has been used for trading and transaction expenses.
The partnership between Ripple and MoneyGram attracts more investors as the crypto firm continuously pumps millions of dollars into the remittance firm. Over the past few months, Ripple has shown evidence that it is heading for greener pastures.
According to Ripple, they will continue to do everything to maintain an excellent and productive partnership with MoneyGram. Since the San Francisco-based firm handed over $9 million to the remittance firm, Ripple is surely a part of MoneyGram’s success for its success this 2020.
Brad Garlinghouse, Ripple’s CEO, congratulated MoneyGram for its digital growth transformation, and he claimed that the company would surely bring more benefits for consumers in the next years.
While everything is good for MoneyGram, Ripple’s XRP fell more than 30% this year due to the coronavirus pandemic, making some XRP holders worry. However, critics said that XRP is now facing an uphill battle, and the cryptocurrency is on its way to greener pastures.
Investors and other XRP holders don’t have to worry since the demand continuously get stronger and might even start a new upward countdown. Some reports also claimed that the XRP price could gain more strength in slicing through the overhead resistance, especially this month, when the government is opening up the economy.
Ripple uses a unique Interledger protocol, which routes payments faster and more cost-effective. It attracts more global banks and remittance companies in supporting XRP. Ripple’s overall system increases transaction processing speed for more convenient cross-border transactions.
According to Ripple, three out of five money transfer agencies worldwide are now considering XRP as a liquidity solution to provide faster money transfers for the consumers. MoneyGram and Western Union are two of the clear evidence that Ripple will continue to expand.
Investing in Ripple’s XRP may be risky and speculative, but its supply and demand this 2020 proved that Ripple continuously strives to provide a better future for its investors and partners. The company’s mission is to help all international transactions worldwide and make everything more convenient. It may be pretty ambitious, but many critics claimed that this currency exchange would not disappear in a few years.
Adam is a passionate cryptocurrency writer.
