Ripple, a US-based Blockchain Tech that majorly facilitates cross-border payment, recently made a very bold step by sealing partnership with the second largest money transfer company in the world, MoneyGram. Report says Ripple will be investing up to $50 Million in the deal. As XRP plays a very big part in the collaboration, we look into what the digital currency stands to gain once it passes the big test.

Ripple has in the past sealed magnificent deals in the course of giving the utilities of its token, XRP, the much needed exposure. XRP is on the list of lots of exchanges and also available in many countries of the world.

XRP ecosystem has added new use cases as Xpring and Coil started to make notable investments in companies, since Unique Node List (UNL) decentralisation has not produced expected result.

Ripple is not just working in favour of only XRP, but also for the good of the cryptocurrency space as a whole. The Tech Company has been working relentlessly underground as it awaits regulatory clarity.

Ripple has secured offices in countries like Switzerland and Brazil, which gives it means to grow in the regions, and also gives XRP the means of showcasing its usability, in order to convince more suitors.

Mass integration of Ripplenet to banks and other notable institutions is ongoing, which is offered by lots of tech companies such as EvonSys, Mbanq, TATA Consultancy Services and others.

To crown it all, Ripple recently partnered MoneyGram, the second largest payment company in the world. The deal is expected to greatly favour the adoption and market price of Ripple XRP.

What XRP Stand To Gain from Ripple and MoneyGram Partnership If It Passes the Test

The latest significant partnership sealed by Ripple was with MoneyGram. The deal tagged strategic, will have XRP functionality in full scale, which will create more liquidity for the digital currency.

Low cost of XRP transactions will also distinctly reduce the expenses of MoneyGram and this is expected to positively impact its rate, in order to gain more global influence.

The activation of XRP on MoneyGram and its eventual success will be the best and timely advertisement to push for mainstream adoption of the digital asset, which would directly increase its market value, and growth independence.

The Possible Cause and Effect of the Present Market Situation on Ripple XRP and Others

The crypto market is generally on low key, due to an obvious price correction, which affected all the major cryptocurrencies in the market, including Ripple XRP.

Bitrue, the exchange that oversees most of Ripple XRP transactions was reportedly hacked few hours ago. According to the message on the Exchange’s Twitter Page, the hackers carted away the sum of 9.3 million XRP and 2.5 million ADA, which is relatively $4.5 million.

The tweet reads thus “The hacker used what they learned from this breach to then access the Bitrue hot wallet and move 9.3 million XRP and 2.5 million ADA to different exchanges.”

The attack initiated a stop in trading activities on the Exchange, however, the funds are now being retrieved from different exchanges where the hackers transferred it to.

About the same time of the incident, there was a server shutdown on Coinbase, a popular crypto exchange. These two major incidents and the shutting down of Koinex were envisaged to have caused the recent market crackdown, which saw Bitcoin, the largest cryptocurrency by market cap, plummet devastatingly.