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News: Ripple Ramps Up Investment Plans But XRP Continues to Tank

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Full credits for this video to NewsBTC who listed the info in this video on an article on their website:


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0:00:00 Ripple Ramps Up Investment Plans But XRP Continues to Tank

0:00:05 This update is brought to you by "CoinCheckup News Updates" and was originally published on "NewsBTC".

0:00:11 San Francisco based fintech firm Ripple is reportedly working on a number of potential investments and acquisitions following its acquisition of MoneyGram.

0:00:19 Meanwhile its native token, XRP, continues to slide in an altcoin avalanche that is starting to gather pace.

0:00:26 According to a report by Yahoo Finance, Ripple boss Brad Garlinghouse has said that the company is working towards multiple acquisitions.

0:00:34 “We’re in a very strong position, our business is growing strongly, we have a strong balance sheet, and I intend to press our advantage.

0:00:41 No further details were offered by Garlinghouse who added that deals are always very hard to predict.

0:00:47 The MoneyGram deal was a big one for the blockchain firm as, in addition to the 10 percent stake, there is an option to invest a further $20 million at the same price over the next two years.

0:00:57 “Moneygram is in a position where it has tremendous assets globally and the public market has not been particularly kind to Moneygram.

0:01:05 The stock had gone way down and they had some pressure.

0:01:08 The money transfer firm has agreed to use Ripple’s xRapid as part of the partnership.

0:01:13 The platform uses XRP in order to help companies manage liquidity when making international payments.

0:01:19 MoneyGram announced that it had already begun using xRapid with the USD to Mexican Peso and the USD to Philippine Peso pairs.

0:01:27 Unfortunately for XRP bag holders, none of this has had an impact on the token price which has fallen through a key psychological level today.

0:01:36 In a market wide altcoin purge, XRP has taken a hit of 3.5 percent on the day to current prices of $0.297 according to Tradingview.

0:01:46 Thanks for watching this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: "NewsBTC", who originally published this news update on their website.


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