XRP Market Update: Ripple’s XRP Sheds Recent Gains Amid Market Correction

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XRP breaks below $0.3 as Crypto market takes another widespread hit from the Bears
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The recent bull market has brought a lot of delight to the faces of traders and enthusiasts alike. Along with Bitcoin, Ripple’s XRP hasn’t been left out of the party. However, of late, the 3rd most valued cryptocurrency had shed some gains as the market faces a long-expected correction across the board.

XRP Market Update: Ripple's XRP Sheds Recent Gains Amid Market Correction
XRPUSD Chart Provided By TradingView

Ripple’s XRP has been noticed to have performed incredibly well in the last few days. XRP, this past week, setting a new year record, the digital asset traded at $0.48 per coin on June 26, 2019.

Apart from the excitement and FOMO in the cryptocurrency market, which have caused some heavy investment into XRP, Ripple Inc has continued to press forward, signing partnership deals and getting more financial institutions and government organizations interested in the Ripple platform.

Recent Partnerships

One of its most recent partnership deals would be the Ripple’s strategic collaboration with MoneyGram. As ZyCrypto reported this on June 18, 2019, detailing information about the newly signed deal.

As reported, Ripple would invest $50 million in MoneyGram, getting a two years equity in return. As expected, there was a boom in XRP’s market price after the announcement.

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According to other reports, Ripple had set up an office in one of the Latin American countries, Brazil. This is rumored to be planned by Ripple to partner with universities in the country, bringing blockchain education to students in the country.

However, there’s something up Ripple’s sleeves. The community awaits Ripple’s partnership with one of the world’s financial giants, Western Union. This is hoped to be as huge as that of its partnership with MoneyGram; if not more explosive.

Western Union’s present CEO, Hikmet Ersek, in his statement confirmed that though the organization has been testing how best the Ripple platform can improve operations of the establishment, they will be further tests before finally settling for Ripple.

Ripple Continues To Push Forward

Despite controversies of Ripple being a centralized project, the team’s focus remains unchanged, turning flaws into strengths.

Recently, analysts like Robert Art has predicted the price of XRP to reach $7. A couple of analysts have also predicted XRP’s price to explode in a few months. But surprisingly, none have attributed XRP’s success to Bitcoin’s movement but all believe XRP is capable of making incredible progress independently.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.