XRP price prediction: Ripple Watches as a former partner changes loyalty

It’s been over three months since I last wrote Ripple (CCC: XRP-USD ) in July. At the time, I was wondering how long it would take for the cryptocurrency to hit $ 3.50, a price prediction from FXStreet based on the assumption that it holds an important level of support.

Now there was something in the prediction. Since my article, the price of XRP-USD is up 93% and is trading above $ 1. The momentum is therefore definitely on the coin as we approach 2022.

The October 6 announcement of MoneyGram International (NASDAQ: MGI ) that there is a partnership with the Foundation for Stellar Development , the people behind it Star lumens (CCC: XLM-USD ) and the Stellar blockchain network as well circle , the group behind the USD coin (CCC: USDC-USD ) suggests that investors should be at least a little concerned about the fidelity shift.

Here’s why.

Ripple has come a long way

In 2021, XRP-USD was up 392% through October 19, according to Coindesk.com. For comparison: Bitcoin (CCC: BTC-USD ) estimated only 119%. Of course I’m just joking. I am sure that longtime coin holders have been very happy with their returns since the beginning of the year.

The XLM-USD is up 192% in 2021 but is not quite the same as Ripple in less than three months. That said, there is no doubt that Ripple has come a long way.

Price predictions are a cup game in the best of times, especially when it comes to cryptocurrencies. They are incredibly volatile financial instruments. Anyone who says they can predict the near-term direction of Ripple or Stellar Lumens or any of the others has an exaggerated opinion of themselves.

But as is customary in this industry, readers like to read price predictions. But unfortunately they can be wrecked cars. My July post is a great example of how things can go wrong.

“If you’re a speculative investor, I’d say Ripple’s chances of falling another 36% are significantly higher than its chances of rising 75% to $ 1. I would hold off buying XRP for a few weeks until it and other cryptos get back on their feet, ”I concluded in my July 21st post.

“As for the $ 3.50 mark, I think that’s out of the question for Ripple in 2021.”

Well, at least I was one on two on the forecasting front.

Heading into 2022, I wonder if MoneyGram’s announcement means bad weather for XRP USD holders, or am I making a mountain out of a molehill?

It’s a bit of both

The collaboration between MoneyGram, Stellar and Circle will enable fast and affordable cross-border transfers between US dollars and USDC-USD stablecoins to millions of people around the world. It is a victory for all participants.

Ripple was MoneyGram’s partner for processing cross-border payments with digital assets from 2019 to March 2021. As part of its partnership, the company even acquired a 30% stake in MGI. However, when Ripple became embroiled in its battle with the SEC over the sale of unregistered securities, the deal likely became too difficult to maintain.

Bloomberg reported on MoneyGram’s new partnership:

“The deal will give Stellar wallet holders access to physical locations to convert coins from USD to cash and vice versa,” said Denelle Dixon, CEO of Stellar Development, in an interview. This means that it is effectively bringing blockchain to the non-digital world. “This is huge for the Stellar Network and the portfolios that are part of the Stellar Network,” reported Bloomberg, Dixon said in his interview with the publisher.

As with Ripple, there is speculation that Stellar Development may be interested in buying MoneyGram, which has a current market cap of $ 642 million.

The essentials for Ripple

Ripple’s lack of partnership with MoneyGram has long been forgotten. Instead, the bigger problem is the ongoing battle with the SEC. Until this is clarified and put aside, there can be no guarantee that XRP-USD will not get a kick in the back by the securities commission.

It seems that the non-profit nature of the Stellar Development Foundation, while Ripple Labs is a for-profit organization, could prevent XLM-USD from being penalized.

The change cannot be anything other than a business decision by MoneyGram. Obviously, this won’t save Ripple if it loses its case with the SEC, but at least it shouldn’t put an additional burden on XRP-USD in the future.

Ripple forecast 2021, 2022, 2023, 2024 and 2025

Ripple Price Prediction for October 2021 . Price at the beginning of 0.82 euros. High price € 1.04, low price € 0.82. The average price is € 0.90. Ripple price forecast at the end of the month 0.93, change for October 13.4%.

Ripple course for November 2021 . Price at the start of 0.93 euros. High price € 1.24, lower price € 0.82. The average price is € 0.98. Ripple price forecast at the end of the month 0.93, change for November 0.0%.

Ripple Price Prediction for December 2021 . Price at the start of 0.93 euros. High price € 0.93, lower price € 0.73. The average price is € 0.84. Ripple price forecast at the end of the month 0.78, change for December -16.1%.

Ripple course for January 2022 . Price at the beginning of 0.78 euros. High price € 0.96, lower price € 0.78. The average price is € 0.86. The Ripple price prediction at the end of the month is USD 0.90, change for January 15.4%.

Comments are closed.