- Ripple’s Partner MoneyGram extends its arms to Indian Market
- Crypto community to see more consolidation in 2020 – Ripple’s CEO
Ripple-backed money transfer giant MoneyGram plans to expand its business to the Indian market via a partnership with EbixCash, a subsidiary of Ebix. According to MoneyGram’s official release, it declares that millions of Indian customers will receive improved remittance services. With the partnership, MoneyGram will have access to run remittance services in over 4,000 cities and 75,000 villages, hence allowing swift and affordable transaction globally. The internal remittance volumes are projected to reach $3 billion.
XRP Price Prediction – Ripple Price Prediction
Speaking on the partnership deal, MoneyGram chief revenue officer, Grant Lines stated: “India remains the world’s top recipient of remittances, and we’re excited to better serve this critical market through our partnership with EbixCash, a leading brand with an approximate 80% share of locations in the country.”
MoneyGram CEO Alex Holmes also stated that their main target is investing money into the digital development of its business and new international markets. He went thus:
“Partnering with the largest financial exchange in the country is an important milestone, and we are excited to enable EbixCash to plug into the MoneyGram platform to access our customer-centric capabilities and services.”
Crypto Community to See More Consolidation in 2020 – Ripple’s CEO
Ripple’s CEO Brad Garlinghouse in a
XRP (XRP) Price Today – XRP / USD
Remarkably, Ripple recently completed its $200 million Series C fundraising that pushed it to the $10 billion leagues. The XRP community anticipate Ripple to continue developing its ecosystem. Speaking on this, a twitter user with username @XRPcryptowolf, stated:
“We haven’t heard from #Ripple lately @Garlinghouse so can you tell us if @Ripple will be making big acquisitions in 2020 to boost #XRP’s ecosystem?
I’m assuming that you’ll be making big strategic moves & partnerships since you got $200 Million dollars from your Series C round.”
Also, he shared his thought on Visa procuring payment startup Plaid for $5.3 billion. Garlinghouse’s statement has put the XRP community speculating if Ripple plans to make a new acquisition this year.
Visa, a payment technology company responsible for processing $3.4 trillion transactions, procured Plaid for $5.3 billion. The figure doubles the company’s worth of $2.65 billion. Visa and MasterCard invested in Plaid during its $250 million fundraising before procurement, which might explain such a massive premium. According to Visa CEO, Al Kelly, The acquisition of the fintech company will give Visa the chance to fast track the company’s business beyond cards.
Ripple (XRP/USD) forecast on January 27 — February 2, 2020
Cryptocurrency Ripple (XRP/USD) is trading at 0.2207.Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Ripple. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.
Ripple (XRP/USD) forecast on January 27 — February 2, 2020
As part of the Ripple course forecast, a test level of 0.2210 is expected. Where should we expect an attempt to continue the growth of XRP/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 0.2680. The conservative buying area for Ripple is located near the lower border of the Bollinger Bands indicator strip at 0.2200.
Cancellation of the
Ripple (XRP/USD) forecast on January 27 — February 2, 2020 implies a test level of 0.2210. Further, growth is expected to continue to the area above the level of 0.2680. The conservative buying area is located is near the area of 0.2200. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 0.1960. In this case, we should expect continued fall.
Ripple Chief Bashes Bitcoin While XRP Tumbles Again
Ripple chief executive Brad Garlinghouse has been bashing Bitcoin again on its potential for becoming a major payments network. Meanwhile, the company’s own digital currency, XRP, has added to its losses this week.
Speaking to the Wall Sreet Journal recently, Brad Garlinghouse was not very complimentary about Bitcoin. However, the comments are par for the course coming from a company promoting its own centralized payments platform.
Ripple Bashes Bitcoin
Garlinghouse basically told the host that Bitcoin is currently no good for payments,
“I’m bullish on BTC as a store of value, but not for payments. You don’t want to use BTC at Starbucks b/c by the time you get your coffee, it’ll be cold.”
Naturally, the SVP of products at Ripple, Asheesh Birla, agreed with him.
Bitcoin maximalist Udi Wertheimer was not impressed and stated that marketing and narrative are the most important aspects of cryptocurrency. The store of value narrative for BTC was clearly evident during the escalation of geopolitical tensions earlier this month.
“If ripple doesn’t get its act
Forgetting About the Technology
What Garlinghouse fails to acknowledge is that Bitcoin is a perfectly good method of making payments if solutions such as the Lightning Network (LN) are used.
This layer-two micropayments technology was designed to open channels between users and merchants to enable rapid transfers on top of the Bitcoin network.
According to Defipulse, LN usage has grown by 275% since the same time last year in terms of total value locked in USD. In terms of BTC, it has grown 55% over the same period so people are using it.
Another solution is Liquid — a sidechain enabling rapid low-fee transfers between trusted entities such as cryptocurrency exchanges.
So, yes Brad, there are viable solutions to use Bitcoin to buy a coffee with.
There is a saying about glass houses and stones, and it may be applicable here in terms of asset performance over the past year.
In 2019 Bitcoin gained 85%, although it was not one of its best-performing years. XRP, on the other hand, was one of the worst-performing crypto assets, dumping 47% over the same period to finish at a two-year low.
Company token supply manipulation has irked investors who want more transparency from Ripple. Leading community members have even suggested hard forking the blockchain to make it more decentralized.
Today XRP is falling again with a 4.5% slide back to $0.22 at the time of publishing.
Latest News – Top Headline for Ripple XRP, January 26th, 2020
- Ripple and SEC in regular talks over XRP’s regulatory status
- Ripple Price Analysis – XRP delines as it lacks buyers at Critical support level
Ripple appears to be showing concerns on its regulatory status as the San-Francisco based company is always in meetings with SEC on the issue. In the crypto sphere in general, the most prevalent regulatory issue is whether a digital asset has legal standing or not. Also whether a digital asset is a commodity or security hangs on how much it is regulated.
XRP (XRP) Price Today – XRP / USD
Ripple News Update – so far the status of Ripple’s native token XRP is still anonymous. It is yet unknown if XRP is a commodity or security. The U.S regulators have considered both BTC and ETH as commodities. To facilitate the decision-making process, an affiliated company with XRP known as Ripple Labs is working earnestly on the issue. The Chairman of the Commodity Futures Trading Commission (CFTC) Heath Tabert spoke on the regulatory status of XRP coin in an interview with Cheddar. Also, the CEO of Ripple shared his thought on Ripple’s regulatory status.
While in an event held in Switzerland, Garlinghouse stated that they are in dialogues with SEC for a while now. He added that educating the regulators is a “really constructive process”. He went thus:
“We’ve been working closely with the SEC over the last year or so to think about which falls in what box because I think if I hear
Mike Dudas the CEO of The Block has given two presentations so far that implies that XRP coin is a security. The presentations provided several posts and comments from Ripple. Among the Ripple executives’ comments are:
“the company created XRP, and that the company and its agents are selling the asset above the need for profit”.
Ripple Price Analysis – XRP delines as it lacks buyers at Critical support level
Ripple Latest Update – XRP coin declined abruptly from $0.23 to $0.21 briefly after the bulls failed to protect the critical support level. Previously, XRP coin was ranging over $0.23 because of the failure of the bulls to endure above $0.25.
Currently, XRP coin has declined to $0.21 again because of a lack of buyers at the critical support level. It is unsure if the recent price decline has ended. The market is still trading on a downward trend. The XRP price decline might likely get to the low of $0.20 because the bears have broken below the exponential moving average.
XRP Price Prediction – Ripple XRP Price Prediction
Ripple News Update – Projections are that the XRP price will hold at the $0.20 support level. If this happens, the bulls will try to drive the XRP price over the EMAs because the market will continue to decline, once the XRP price is below the EMAs. However, if the $0.20 support level breaks, XRP price will decline to a low of $0.18.