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Digital Currency Revolution Series: Heads-up on Ripple/xRapid's Strategic Expansion
At all walks of our lives in the investment world, it is wise to empathize the right driving force of an asset class rather than blaming other assets.
With Ripple (XRP) has surpassed Litecoin in the market cap race to feature 3rdplace in the crypto-space (Mkt.cap of Ripple – $18.40 bln, Litecoin - $8.40), as the buying sentiments are mounting higher but the understanding of the variances between the Ripple as an organization and the XRP as a token still appears to be deficient. So, it is wise to empathize the driving forces of XRP, their strategic alliances and the fundamentals of the same.
Ripple has recently announced a strategic partnership with money transfer giant MoneyGram today.
Thereby, Ripple is reportedly in a pact to infuse up to $50 million in the form of capital to MoneyGram in exchange for equity over a two-year period. While MoneyGram is also expected to leverage the xRapid product, that is likely to enable the company to tap into on-demand XRP liquidity for cross-border payments, as per the announcement.
xRapid is the rationale protraction of the current service. xRapid also works more similarly to xCurrent. Even so, it requires the XRP as a currency. Where XRP provides the liquidity requirements in overseas transactions. Most importantly, eliminates the need for expensive Nostro accounts.
Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards 30 levels (which is bearish), USD is at -145 (highly bearish) while articulating (at 06:08 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex