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Ripple Pushes MoneyGram Shares Almost 350 Percent High, NASDAQ Data Shows

  • Yuri Molchan
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    After Ripple acquired MoneyGram in June this year, the share price of the latter has surged almost 350 percent, NASDAQ data says

Ripple Pushes MoneyGram Shares Almost 350 Percent High, NASDAQ Data Shows
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In summer this year, Ripple closed one of the biggest deals with the global payments platform MoneyGram.

This has had a positive effect on the share price of MoneyGram, letting it rise over 150 percent right after the acquisition in June. Now, a chart from NASDAQ says that since then, the share price of MoneyGram has risen by almost 350 percent.

Moneygram NASDAQ
Image by NASDAQ

Ripple’s support is good for MoneyGram

Data shows that after Ripple had bought a $30-mln stake at the global payment giant, MoneyGram shares surged in price by 153.79 percent – that is $2.23.

About a month ago, MoneyGram started utilizing Ripple’s xRapid along with XRP for conducting its global payments. That was confirmed by the MoneyGram chief executive Alex Holmes.

Now, a NASDAQ chart shows that this figure has reached to nearly 350 percent, the price closed at $5.66. The chart was tweeted by a crypto business angel @CryptoWelson.

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MoneyGram launches debit card service, Ripple CEO to appear on CNN

Earlier, U.Today reported that the CEO of Ripple, Brad Garlinghouse agreed to an interview on CNN today, on September 11. The exact time of the show was not named.

At the moment, many in the Ripple community are curious whether MoneyGram plans to expand its XRP usage. Recently, it was reported that MoneyGram and Visa Direct have launched a debit card deposit service in the US.

However, since MoneyGram is currently using xRapid and XRP, investors and hodlers are curious whether the payments giant is going to shift to the XRP track once the debit card service goes beyond the US and gets to be used by the rest of the world.

Cover image via www.123rf.com
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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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