Daily Traders Edge

Ripple Price Surges 18%, as MoneyGram Finds Use Case for XRP

January 12
15:44 2018

Over the past 24 hours, the price of Ripple’s native cryptocurrency XRP has increased by more than 18 percent, recovering back to $2 after dipping below $1.7 during a major cryptocurrency market correction that occured on January 11.

Ripple Surges in Value

Analysts have attributed the recent increase in the value of XRP to the newly established strategic partnership between Ripple Labs and MoneyGram, one of the largest remittance companies in the global industry behind Western Union, the $9 billion remittance giant.

With a market valuation of just under $700 million, MoneyGram operates a major remittance network with around 350,000 agents, processing payments for tens of millions of users on a regular basis.

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