Ripple's XRP roars above $0.46 on MoneyGram partnership on forex settlements and cross-border payments

Yohay Elam FXStreet

Ripple, the firm behind XRP, has announced a partnership for cross-border payments and foreign exchange settlement with MoneyGram – the world's second-largest transfer service.

xRapid will be used to provide speed and efficiency according to Brad Garlinghouse, CEO of Ripple. Ripple has agreed to provide a capital commitment worth $50 million to MoneyGram. The Ripple-MoneyGram deal comes one day before Facebook will reportedly launch its blockchain project called Libra.

XRP/USD jumped some 6% on the news, hitting a high of $0.4626 before consolidating some of its gains. $0.4647 and $0.4739 are the next levels to watch.

See Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Facebook's Libra launch is almost here, crypto levels to watch – Confluence Detector

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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