It’s been over three months since I last wrote on 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 made by FXStreet based on the assumption that it held a key support level.
Now, there was something in the prediction. Since my article, the price of XRP-USD has appreciated 93% and is trading above $ 1. The momentum is therefore definitely on the coin as we approach 2022.
However, the October 6 announcement by MoneyGram International (NASDAQ: MGI ) that it is partnering with the Foundation for Stellar Development , the folks behind Star Lumens (CCC: XLM-USD ) and the Stellar blockchain network, as well as Circle , the group behind the USD Coin (CCC: USDC-USD ), suggests that investors should be at least a little concerned about the shift in allegiance.
Here’s why.
Ripple has come a long way
In 2021, according to Coindesk.com, XRP-USD is up 392% through October 19. By comparison, Bitcoin (CCC: BTC-USD ) appreciated only 119%. Of course, I’m just saying joking. I’m sure longtime coin holders have been very happy with their returns since the start of the year.
As for the XLM-USD, it is up 192% in 2021, but it doesn’t quite match Ripple’s year with less than three months. Nonetheless, there is no doubt that Ripple has come a long way.
Price predictions are a cup game at the best of times, especially when it comes to cryptocurrencies. They are incredibly volatile financial instruments. Anyone who says they can predict the short term direction of Ripple or Stellar Lumens or any of the others has an exaggerated opinion of themselves.
But, as is the norm in this industry, readers love to read price predictions. But, unfortunately, they can be car wrecks. My July post is a great example of how things can go wrong.
“If you are a speculative investor, I would say that Ripple’s chances of falling an additional 36% are considerably 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 its feet, ”I concluded in my July 21 post.
“As far as hitting $ 3.50, I don’t think that’s in the cards for Ripple in 2021.”
Well, at least I was one for two on the prediction front.
As we head into 2022, I wonder if MoneyGram’s announcement portends 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 inexpensive 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 using digital assets from 2019 through March 2021. It even purchased a 30% stake in MGI as part of its partnership. However, once Ripple got involved 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,” Denelle Dixon, CEO of Stellar Development, said in an interview. This means it effectively brings blockchain into the non-digital world. “This is huge for the Stellar Network and the portfolios that are part of the Stellar Network,” Bloomberg reported, Dixon said in his interview with the publisher.
As was the case 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 issue is the ongoing battle with the SEC. Until this is resolved and set aside, there can be no assurance that XRP-USD will not receive a kick in the back by the securities regulator.
It appears 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 may be nothing more than a business decision by MoneyGram. Of course, this won’t save Ripple if it loses its case with the SEC, but at least it shouldn’t place an additional burden on XRP-USD going forward.
Ripple Prediction 2021, 2022, 2023, 2024 and 2025
Ripple price prediction for October 2021 . Price at the start of 0.82 Euros. High price 1.04 €, while 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 €, while low 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 €, while low 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 start of 0.78 Euros. High price 0.96 €, while low price 0.78 €. The average price is 0.86 €. Ripple price forecast at the end of the month is $ 0.90, change for January 15.4%.
