{"id":3012,"date":"2020-12-09T06:56:00","date_gmt":"2020-12-09T06:56:00","guid":{"rendered":"https:\/\/timestampmag.com\/?p=3012"},"modified":"2020-12-10T15:26:04","modified_gmt":"2020-12-10T15:26:04","slug":"major-updates-on-ripple-xrp","status":"publish","type":"post","link":"https:\/\/timestampmag.com\/2020\/12\/09\/major-updates-on-ripple-xrp\/","title":{"rendered":"Major Updates on Ripple XRP"},"content":{"rendered":"<ul>\n<li><b>Our updates on Ripple include that at the end of November 2020, the US tech firm Ripple Labs, Inc. sold its 33% stake in MoneyGram.\u00a0<\/b><\/li>\n<li><b>After selling these shares, Ripple Labs will have 2.24 million shares or 3.1% of MoneyGram\u2019s stakes. Including the additional warrant shares, the total stake would be 11%.<\/b><\/li>\n<li><b>The price of Altcoin XRP is yet to break the $1 ceiling just yet despite the upcoming Flare Network\u2019s Spark token airdrop scheduled to launch in mid-December.<\/b><\/li>\n<\/ul>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-3013 size-full\" src=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/1.jpg\" alt=\"\" width=\"960\" height=\"635\" srcset=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/1.jpg 960w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/1-300x198.jpg 300w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/1-768x508.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/p>\n<p style=\"text-align: center;\"><em><span style=\"font-weight: 400;\">Source: <\/span><a href=\"https:\/\/pixabay.com\/illustrations\/coins-cryptocurrency-ripple-xrp-3786691\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Pixabay.com<\/span><\/a><\/em><\/p>\n<h2><b>Ripple Sells its 33% Stake (worth $15 Million) in MoneyGram<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">At the end of November 2020, Ripple sold its 4 million MoneyGram shares. It means the company has given away <\/span><a href=\"https:\/\/news.bitcoin.com\/ripple-selling-33-stake-in-moneygram\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">nearly 33.3% of its stake<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After selling off this stake, Ripple will still have 2.24 million shares or 3.1% of MoneyGram\u2019s outstanding shares. Consider the additional warrant shares; the total stake would go up to 11%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Between Nov. 27 and Dec. 4, after filing with the Securities and Exchange Commission, Ripple sold 2,264,113 shares of MoneyGram. <\/span><a href=\"https:\/\/cointelegraph.com\/news\/ripple-has-sold-15m-of-its-stock-in-moneygram\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Rippled gained a total of $15,303,792.60<\/span><\/a><span style=\"font-weight: 400;\"> from the sales.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If Ripple sells all of its 4 million shares, it will earn approximately $30 million at the current market prices, gaining nearly 50%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The decision of selling these shares by <a href=\"https:\/\/timestampmag.com\/2020\/04\/08\/market-insights-ripple-price-analysis\/\">Ripple<\/a> appears to be motivated by the surging price of MoneyGram\u2019s share and to cash out a large chunk of the stake after buying them at a premium price of $4.10 in 2019.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Earlier in November 2019, Ripple invested $50 million (8.6% stake) to buy MoneyGram\u2019s share as part of its strategic partnership. The <a href=\"https:\/\/securedigitalmarkets.com\/trading\/\" target=\"_blank\" rel=\"noopener\">investment<\/a> added up to just about 12.2 million shares, including the additional warrant shares.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the close of sales on Nov. 27, MoneyGram\u2019s shares were down to 4.8% at the price of $7.42 on the <\/span><a href=\"https:\/\/www.nasdaq.com\/articles\/ripple-is-cashing-out-a-third-of-its-stake-in-surging-moneygram-2020-11-27\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">NASDAQ<\/span><\/a><span style=\"font-weight: 400;\">. The stock has risen to 260% year-to-date, increasing from $2.06.<\/span><\/p>\n<h2><b>Can Flare Network Airdrop Help Break the Barrier?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Altcoin XRP has been doing reasonably well in the crypto market for some time. However, the price of XRP still has not been able to <\/span><a href=\"https:\/\/cointelegraph.com\/news\/xrp-price-will-the-flare-network-airdrop-trigger-a-rally-to-1-00\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">break the $1 ceiling<\/span><\/a><span style=\"font-weight: 400;\"> just yet despite the upcoming Flare Network\u2019s Spark token airdrop scheduled for mid-December.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The US tech firm Ripple Labs, Inc. still holds the stake of 48 billion XRP, which mostly played down its relationship to token during the last few years, now may change their approach due to the recent price surges.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the recent few weeks, XRP\/USD has notched up some impressive numbers as the token price has soared from $0.22 to $0.80.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-3014 size-full\" src=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/2.png\" alt=\"\" width=\"1508\" height=\"752\" srcset=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/2.png 1508w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/2-300x150.png 300w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/2-1024x511.png 1024w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/2-768x383.png 768w\" sizes=\"(max-width: 1508px) 100vw, 1508px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The price movement has broken XRP\u2019s downtrend of several years since January 2018. Besides, a relatively smaller price movement happened in August 2020, when the price of XRP went up from $0.16 to $0.33.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After this significant price movement, XRP could correct its previous price resistance at $0.22. This correction provided bullish support, post-that, the significant price surge to $0.80 occurred, rallying as high as $0.90 on Coinbase in November 2020.\u00a0<\/span><\/p>\n<h2><b>Before We Go<\/b><\/h2>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-3015 size-full\" src=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/3.jpg\" alt=\"updates on ripple\" width=\"960\" height=\"635\" srcset=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/3.jpg 960w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/3-300x198.jpg 300w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/3-768x508.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The cryptocurrency market has been in the limelight during the past several months with significant price surges in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), <a href=\"https:\/\/gda.capital\/news\/2020\/07\/01\/what-is-litecoin\/\" target=\"_blank\" rel=\"noopener\">Litecoi<\/a>n (LTC), and others. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Particularly, the price surge of Bitcoin has been associated with Wall Street and major financial institutions raving about this new asset class and its digital store of value. Now, the altcoin XRP too has been showing a promising upward trend, which is good news for investors.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our updates on Ripple include that at the end of November 2020, the US tech firm Ripple Labs, Inc. sold its 33% stake in MoneyGram.\u00a0 After selling these shares, Ripple Labs will have 2.24 million shares or 3.1% of MoneyGram\u2019s stakes. Including the additional warrant shares, the total stake would be 11%. The price of [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":2991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[360,137,104,120,438,437,439,34,436],"_links":{"self":[{"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/posts\/3012"}],"collection":[{"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/comments?post=3012"}],"version-history":[{"count":3,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/posts\/3012\/revisions"}],"predecessor-version":[{"id":3029,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/posts\/3012\/revisions\/3029"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/media\/2991"}],"wp:attachment":[{"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/media?parent=3012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/categories?post=3012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/tags?post=3012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}