Stellar Lumens Corrected A Bit Lower At $0.1300

By dan saada June 19, 2019 0
stellar lumens

Stellar lumens might bounce back or extend its losses as it is testing major support.  The price recently declined below $0.1300.  The price of XLM failed to gain momentum beyond $0.1340; it corrected a bit lower at $0.1300.  The 2-hours chart showed support near $0.1240 on the 2 hours chart. The price of XLM will either bounce back above $0.1300, or it can do down toward $0.1200 level.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, Litecoin including XLM, were making major gains. However, the trends changed.  If there will be further losses, the price might move towards the $0.1175 level.

Alex Holmes, MoneyGram, Chief Executive, and Chairman stated, “As the payments industry evolves and matures, it’s imperative that we continue to improve our platform and provide the most effective solution to get funds from point A to point B.”  He further added, “Through Ripple’s xRapid product, we will have the ability to instantly settle funds from U.S. dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”

Ripple announced a major partnership with Money Gram.  Brad Garlinghouse, CEO of Ripple stated that the strategic alliance will enable MoneyGram to improve the operations and it will be of use to several millions of people across the world to benefit from the more advanced processes which will transfer cross-border payments.

Ripple has been arguing for a while that the banks should be using XRP.  He believes in the efficiency of XRP in serving as a bridge currency.  This, he says, is a good idea as opposed to leaving money as collateral in foreign accounts.

When speaking to Fortune, Brad Garlinghouse stated that MoneyGram has a negative working capital.  This, he said, is one of the reasons for why they will smooth out the treasury operations by eliminating the requirement to deploy foreign accounts.

Ripple CEO stated about how several partners are making use of XRP with a total implied value of $18 billion.  This has eventually led to a highly liquid supply of XRP.  Financial firms will thus be able to move in and out of the currency in just a few seconds.

Ripple is on the observer status on the Ripple Board.  Ripple purchasing the newly-issued shares of Money Gram has improved the recent price of MoneyGram, which has been around the $1.50 range.

The terms of Ripple investment provides MoneyGram with the opportunity to improve its operating efficiencies.