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XRP adoption soaring in the wake of MoneyGram deal, believes Ripple head; dump continues as petition gathers momentum

Bitcoin

XRP is ranked at #3 below Bitcoin and Ethereum on coinmarketcap. The price dropped at a rate of 1.76% in the course of the past 24-hours. The trading volume recorded is $985.862 million, whereas the supply now has 42,909,539,227 XRP coins in play. At present, the total market cap of XRP is $11.552 billion. As of this moment, XRP is priced at $0.269234.

Breanne M. Madigan, the one at the helm of Ripple’s global institutional markets group is optimistic due with regards to the MoneyGram partnership. She talked about the rise in trading volume on Bitso right after MoneyGram went LIVE in Mexico.

Since August 2nd, MoneyGram has been employing the xRapid solution in order to carry out cross-border transactions. The reach of this leading payments provider firm extends to remote areas around the world. More than a month ago, Ripple had purchased an estimated $30 million worth of the organization’s shares.

On the other hand, the petition on change.org has received a ton of support from over 2,100 people till now. Do note that Jed McCaleb, who was a co-founder of Ripple but is now the CTO of Stellar, has been routinely dumping XRP coins that prohibits the price from climbing.

Even though banks have mostly displayed a welcoming attitude towards Ripple, the fault lies with its centralized setup. This hasn’t even been addressed by top executives, let alone rectified. XRP has been a major loser of 2019, although Bitcoin Cash won’t be able to overtake XRP any time soon.

Some picture this as the perfect solution. This, however, remains part of a problem.

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