According to a recent press release, MoneyGram and Ripple will partner to allow MoneyGram to utilize Ripple’s xRapid product for cross-border payments.
Ripple (XRP) is the “cryptocurrency token” native to “the Ripple Network.” The Ripple network (also called “Ripple”) is an open source, peer-to-peer, real-time payment system (like Bitcoin’s blockchain or Ethereum’s network) that can be used to transfer both fiat currencies and the Ripple cryptocurrency XRP.
Coinbase will now list Ripple (XRP). Finally, it is really happening. XRP fans rejoice. XRP will start trading on Coinbase Pro first.
TRX, ADA, BCH, XRP, and LTC have all had impressive runs recently, as did ETH in its own right. Meanwhile BTC is holding its ground.
XRP is outperforming the market, as far as I can tell this is excitement over Xrapid (Ripple’s answer to the SWIFT network) paired with Bitcoin and Ethereum drama.
A lot has happened in crypto in October 2018 despite the price of Bitcoin staying rather stagnant. Let’s do a quick review of October 2018 so far.
XRP took off running over news of XRapid and almost every other crypto followed suit this week.
CryptoVest.com did a study that showed international transfers of Bitcoin were 1,000s of times cheaper than international wire transfers of USD.
XRapid is a liquidity solution for banks that uses Ripple’s XRP as a bridge currency and is being developed by the company Ripple. According to Ripple, XRapid eliminates delays in global payments while also dramatically lowering their cost, thus making cross-boarder payments instant and inexpensive.
XRP has been on a run for the past few days. This is likely due to excitement over the upcoming xRapid system. To understand why that is the case, you have to understand what XRapid is and how it relates to XRP.
Bitmex is a crypto derivatives exchange that uses high leverage and margin trading and is open to many non-U.S. citizens. They have been the highest volume exchange in the 2018 bear market.