Projected XRP Price if Western Union and MoneyGram Adopt It
Main Idea
The price of XRP could experience significant growth if major remittance firms like Western Union and MoneyGram integrate it into their operations, with potential price projections ranging from $12 to $94.56 based on different adoption scenarios.
Key Points
1. Western Union and MoneyGram collectively facilitate over $350 billion in annual transfers, with Western Union handling $150 billion and MoneyGram processing $200 billion.
2. Two projection models estimate XRP's price impact: one suggests a rise to approximately $12 with full adoption, while a more aggressive model projects a potential price of $94.56.
3. Ripple previously partnered with MoneyGram in 2019 for cross-border settlements and invested $50 million in its equity, but the partnership ended in 2023 due to Ripple's legal issues with the SEC.
4. Western Union explored Ripple's technology in 2015 but never fully adopted XRP for settlements.
5. The projections do not account for XRP's deflationary mechanisms, which could further increase its value if adoption expands.
Description
The price of XRP could see a significant boost if leading remittance firms like Western Union and MoneyGram integrate the cryptocurrency into their global settlement operations. Western Union and MoneyGram are among the largest players in the international remittance industry. Collectively, they facilitate over $350 billion in transfers annually , with Western Union accounting for approximately $150 billion and MoneyGram processing over $200 billion. Given the scale of their operations, any mean...
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