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XRP jumps as Ripple’s partnership with MoneyGram ends (for now)

Source: Adobe / Stanislav

XRP rose after US-based blockchain company Ripple announced that its partnership with US money transfer company MoneyGram had ended for the time being.

At the time of writing (05:24 UTC), XRP was trading at $ 0.483 as measured by market capitalization in # 7, up nearly 4% in one day and 8% in one week.

XRP price chart over the last 24 hours:

XRP jumps as Ripple's partnership with MoneyGram ends (for now) 102Source: Coingecko.com

“Together, Ripple and MoneyGram made the decision to end our current partnership agreement,” said the blockchain company, without explaining the reasons for this decision and without mentioning its stake in MoneyGram. However, according to the announcement, both companies are “committed to reconsidering our relationship in the future.”

In February, MoneyGram announced that support for Ripple remains in place despite an announcement that it will suspend receiving “market development fees”.

“While the lack of a crypto [regulation] Framework has unnecessarily tarnished the waters for US businesses and consumers, there’s no denying what Ripple is and what [MoneyGram] have achieved together. Billions of dollars have been sent and processed across borders via ODL [On Demand Liquidity] [with] XRP, “said Brad Garlinghouse, CEO of Ripple.

Ripple began paying the fees to MoneyGram as part of an agreement to use Ripple’s under attack XRP tokens in international comparison deals.

As reported, MoneyGram is facing a class action lawsuit alleging the company made false and / or misleading statements about its partnership with Ripple and the legal status of the XRP token.
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Learn more:
– MoneyGram says it still supports Ripple despite the partnership hiatus
– Review of Ripple’s claim that “many G20 governments” refer to XRP as “currency”
– MoneyGram’s success depends on Ripple’s success – CEO
– What kind of crackdown by the SEC? The Japanese giant SBI is now offering XRP loans
– XRP Pumpers hope for more action; Cardanos Hoskinson warns of pumps and dumps
– XRP falls despite positive reports, there is a lawsuit over USD 50 loss

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