Ripple has sold some of its MoneyGram shares.
In January 2018, the partnerships between blockchain giant Ripple and payment giant MoneyGram were on the agenda, and the XRP price had its share of the partnership. Within 3 years, two companies achieved great works. In 2019, Ripple made its first investment in MoneyGram. However, the latest move raised questions about whether the partnership will end.
Ripple Sells MoneyGram Shares
The news that surfaced last week claimed that Ripple will sell one third of the shares it started investing in 2019. Ripple owned 6.22 million of MoneygRam shares, or 8.6 percent of the outstanding shares. However, with the last move, this ratio has decreased considerably.
Ripple Labs has sold the bulk of its 2019 investment in MoneyGram, according to the latest reports. Ripple Labs was able to sell 2,264,113 shares of MoneyGram (MGI) from November 27 to December 4. The technology firm earned a total of $ 15,303,792.60 from sales.
On the other hand, MoneyGram's stock value recently increased from $ 2.94 on October 1 to $ 8.53 on November 23. However, as a result of the news about Ripple 's sale, MoneyGram shares fell to $ 6.54.
Is the Partnership Ongoing?
After the developments in 2019, there has been a lot of speculation that the partnerships of the big company in 2020 were broken or that the ties were loosened. However, a Ripple spokesperson told Cointelegraph, “Ripple is a proud partner of MoneyGram's digital growth transformation. The final move is a purely logical financial decision Ripple has taken to make some gains in its MGI investment, and is in no way a reflection of the current state of our partnership. used the expressions.
Therefore, according to the statements, there are currently no problems in the partnership between MoneyGram and Ripple Labs .
XRP Price
There is no clear explanation as to whether the XRP price will be affected by these announcements. However , with the effect of the decrease in Bitcoin , corrections are experienced in all cryptos. Still, XRP, the third largest cryptocurrency in terms of market volume, experienced the best performance of the last 3 years despite corrections and moved its price from $ 0.29 to $ 0.78.
In addition, if BTC continues to increase, it is thought that XRP will see higher levels along with all crypto .
