Despite the decline in the crypto market, things may not be as bad as they seem, especially for XRP token. According to the CoinFairValue analytical service, the fair price of the XRP cryptocurrency is at the level of $0.974, which looks much more positive than its current market value.
Thus, CoinFairValue provides with its data based on the current use of the token. This indicator does not contain assumptions about future uses.
ConFairValue also maintains that the price of XRP remains around $0.21 despite the high fair value attached to XRP. The platform also added that the Basket 24 hours average value of the cryptocurrency is $62.364, and it has a median fee of $3e,-06.
Recent Partnerships: MoneyGram And TranferGo
MoneyGram has already integrated Ripple’s ODL system into its platform, thereby increasing its trading volumes by more than 10%. Ripple invested the final $20 million in the MoneyGram money transfer service. The total amount of investments amounted to $50 million.
Recall that 10% of transactions conducted by MoneyGram between the USA and Mexico are carried out through ODL technology developed by Ripple specialists. One of the participants in the crypto community compared the volumes of transactions in a startup network with popular transfer directions:
Over 2,000,000 trades per/minute. 😲
Somethin' be happenin'! 👇 #XRP #ODL #Swell #Ripple pic.twitter.com/A2oFHdb8F8
— CryptoPennyCO 🤔 ☕️ 💰 (@CryptoPennyCO) November 6, 2019
As we know the funds attracted by the money transfer service will be used to expand the use of ODL. The technical solution involves the use of XRP startup tokens. Accordingly, Ripple’s investments will increase the volume of cryptocurrency transactions.
The beginning of a strategic partnership between MoneyGram and Ripple became known in the summer of 2019. As of the end of November, the money transfer service operates more than 200 countries around the world. The integration of ODL into the company’s system has simplified the process of transferring funds. MoneyGram abandoned an inconvenient traditional system, which implies the need for pre-purchase of foreign currencies.
Today, it also became known that Ripple is partnering with another provider of money transfers. This time it is TransferGo. The company plans to integrate Ripple’s cross-border on-demand liquidity (ODL) payment system using the XRP token as an interim currency in 2020.
All these steps on the part of the blockchain startup strengthen its position on the world stage, which may affect the price of the token.
The Current Situation Around XRP Token
XRP followed the general crypto market trend, as a result of which quotes broke the minimum values from the beginning of this year. This positions the coin as an outsider in the ranking of the most liquid cryptocurrencies again. The price of the second altcoin is trading at the level of December 2017. At press time the current price is $0.2195.
There are no new ideas here and cannot be. With such dynamics, it is necessary to stay away from active actions with this tool even in the case of reversal signs. Most likely, a reversal will occur against the backdrop of a change in general market sentiment, and therefore, tools with the most attractive prospects will appear on the medium-term investment horizon.