The XRP price jumped 14% on Monday, coinciding with the news that Moneygram had just achieved record online transaction growth. Moneygram’s 70% year-on-year growth over Christmas came just weeks after Ripple finalized a $50 million investment in the payments platform.
Ripple CEO Brad Garlinghouse said Moneygram’s use of the firm’s On Demand Liquidity (ODL, previously named xRapid) would be accelerated in the wake of the investment. Moneygram’s non-US growth was even higher in 2019, with a 120% increase in transactions internationally. Mobile devices were used in 80% of transactions overall.
While no details have emerged regarding Moneygram’s utilization of ODL, the association may have been enough to sway the day’s trades in XRP’s favour. XRP was the second highest gainer in the market cap top hundred on Monday. The coin price surged throughout the afternoon, climbing from $0.195298 up to $0.223832. That put XRP on a three-week high, returning to a price point not witnessed since Dec. 11.
XRP Goes Vertical with 14% Price Pump on Moneygram News, CCN, Jan 7
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