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Does Ripple Make XRP Holders Rich Like MoneyGram?

Jamie West by Jamie West
November 6, 2020
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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.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: Brad Garlinghousecryptocurrencydigital assetinvestmentRippleRipple CEOSan FranciscoXRPXRP holders
Jamie West

Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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