(BlockBar) XRP jumped rapidly from $0.42 to over $0.45 at 4:00 on June 18, breaking through the three major ports of $0.43, $0.44 and $0.45 in an hour. After experiencing a sharp rise, XRP continued to gain momentum for the next hour, with prices soaring to $0.46, a big breaking through position.

Ripple, a crypto asset company, announced this morning its partnership with Money Gram, an international remittance company, to promote XRP for international remittances. For the plan, Ripple will buy 8% to 10% of Money Gram at 4.10 cents a share, equivalent to about $30 million in investment. Furthermore, It provides the options for Money Gram to get another $20 million in cash investment in the next two years. For eighteen months ago, Ant Financial said it’s interested in takeover Money Gram, which was forced to abandon the plan because of the intervention of the U.S. government.

According to public information, Money Gram was established in 1988, and is committed to providing rapid remittance services to millions of customers in more than 200 countries and regions around the world, supporting a variety of currencies. Garlinghouse, Ripple’s chief executive, said: “This strategic partnership will greatly improve its business and benefit millions of people around the world from its increased efficiency. This is a huge milestone in helping to transform cross-border payments, and I look forward to a long-term, very strategic partnership between our two companies.

Industry insiders point out that the partnership with Money Gram could help Ripple face the challenges posed by Facebook. Now, at same time, Facebook launch a white paper on encrypted currency items. Its token, Libra, would anchor a basket of stable currencies, mainly for payment purposes. Currently, XRP offers $0.44, up 4.41% in 24 hours.