News that, if confirmed, would be truly incredible. Stellar XLM, Ripple’s main rival in the international payments space via Yellow Rocket Agency, is reportedly negotiating the purchase of MoneyGram, one of the world’s leading overseas remittance payment systems.
Once again, the paths of Stellar and Ripple end up crossing, with the latter being a partner of MoneyGram until the SEC initiated the lawsuit, which at least in the US has created a huge financial and commercial upheaval.
Unbelievable revelation of Bloomberg: Stellar ready to get its hands on MoneyGram
Definitely bullish news for Stellar, which we find on the platform eToro (here to test the free virtual account)
, a leading intermediary of
on a global scale, which offers us 100% exclusive services such as CopyTrading (to copy who earns at the top on the platform or to spy on his every move) and as CopyPortfolios, which offer us baskets of coins and tokens distributed by capitalization.
Stellar relaunches in its war on Ripple: on the table there is MoneyGram
Incredible news that circulates in the U.S. for a few hours. Stellar XLM, which was born in contraposition to Ripple, is about to get its hands on MoneyGram, a company that deals with the instant transfer of money between different countries – much used by immigrants for remittances to the country of origin. The news was spread by Bloomberg
, but there are no further details regarding either the price or the actual stage at which negotiations between the parties would be.
A hard blow for Ripple? On a symbolic level, certainly yes. After the start of the SEC lawsuit against the group, MoneyGram had stopped working with XRP
, fearing repercussions from the authority that deals with financial markets in the U.S.. XLM, on the other hand, has no such problem, as it confirms itself as a grim (and growing) rival for the better known XRP.
And let’s not forget that Stellar was launched by Jed McCaleb, who was part of the Ripple team and who decided to split and launch his own ecosystem due to irremediable disputes with the XRP management. A cold war within the cryptocurrency industry that continues even on the price front. Pre
assets on which McCaleb still has an impact. He has a huge amount of XRP in his portfolio, which, however, by virtue of an agreement with Ripple Labs, he can only sell up to a maximum of 1.5% of the entire daily trading volume of Ripple on the markets.
A rivalry between people, but not for the financial markets
However, the rivalry between Stellar and Ripple, which despite operating in the same niche, is more related to the cumbersome personalities that ended up separating than an inverse correlation of the two on the markets. Because precisely XRP and XLM have repeatedly followed the same trajectories in the marketplace – and continue to grow consistently in terms of reach thanks in part to a market that is fundamentally expanding. Net of the rivalry on paper of the two groups, we have always stated on our pages that there will be a chance for both to become relevant. It is equally certain, however, that the possible acquisition of MoneyGram could change the cards on the table and break the balance in favour of XLM.
How did the markets react to the news?
In a day that was already particularly exciting for the sector, with Bitcoin rising above $32,000 and then remaining there, XLM was among the projects with the highest growth rate. At the time of writing it is above $0.25 per coin, twice the market average.
This is a sign that the acquisition of MoneyGram would be a rather tantalizing hypothesis even for those who have already invested in XLM. Our Stellar forecasts, which foresee decidedly higher price levels for the project, can only be confirmed.