Owners of cryptocoins have had an exciting week behind them. After bad news from China and South Korea the entire market got a big hit. Bitcoin plummeted, Ripple strongly declined after a peak moment and other cryptocurrency's followed. Panic investors suddenly wanted to get rid of their coins. These are often consumers who have experienced a significant decline for the first time because they have stepped into digital coins at the end of last year.
Ripple gets a big hit
Chances are that you have XRP, the currency that runs on Ripple. Ripple stayed at $ 0.20 for most of 2017, but exploded in December. Suddenly the cryptocoin climbed to no less than $ 3.00. The coin received mainstream attention. Consumers invested their money en masse. Make no mistake: the coin is still at $ 2.00, far above the average level of 2017.
Yet it was a bit of a shock. Now we have good news for you: Ripple has announced a collaboration with MoneyGram. Ripple has been working since 2004 to develop a system for banks and payment processors. However, these parties must come on board. The company already announced that by 2018 no less than three of the five largest payment processors would do trials with the revolutionary system.
Keep in mind, however, that XRP is not the same as Ripple.
MoneyGram
MoneyGram is going to process the XRP technology in its payment system this year. This solves the classic liquidity problems of the company. Ripple not only makes international transactions faster, but also cheaper. The news comes just after confirmation that the acquisition of MoneyGram by Alibaba is canceled.
Good news, and you can see that in the course of the crypto-coco. We are seeing green figures and strong growth again. Keep in mind, however, that XRP is not the same as Ripple. Use of the underlying system does not necessarily mean that the currency you have will also be used. The two are of course connected .
All in all, the future of the cryptocoin looks bright. Expect more of these announcements in the coming months, because the ambitious company has several collaborations in the pipeline. Do not forget, however, that this is mainly the long term: in between you can again expect declines like last week. Ripple has to be worth Ripple to make the founder the richest person on earth.