By Dmitriy Gurkovskiy, Chief Analyst at RoboForex
Presently, the XRP cryptocurrency is the third one on the market in terms of capitalization, which is $12.8 billion. The XRP is currently trading at $0.2975. Unfortunately, this digital asset has been declining recently, testing local minimums, as well as other altcoins.
Anyway, Ripple has become a partner of MoneyGram, investing $30 million in the second-largest company in the field of money transmissions. The blockchain company is planning to invest $20 million more in the upcoming two years. Such cooperation may become a good help to the digital asset, so that the quotations may bounce off the nearest support level.
MoneyGram, in its turn, started using xRapid by Ripple, which received necessary liquidity, on August 3rd. Use of this product is the main condition of the bargain for $30 million. XRapid uses the XRP token for instant calculation of money.
According to the Ripple CEO Brad Garlinghouse, the company paid quite a high price for this bargain; however, in the long…