Since Ripple made their partnership with Money Gram International official, the MGI stock price has been rising at a very fast pace. Many XRP buyers wish they could say the same thing about the value of Ripple's cryptocurrency.
How high can the MGI stock price go in the coming months and can we expect a Ripple XRP price increase?
On the day of the RippleGram announcement, 17 June 2019, the MGI stock jumped from $1.50 to almost $4. Ripple's utility token did not experience similar price move. It actually went the other direction. Many XRP hodlers wished they had invested into the global transfer company when the price per share was still under $2. Today's Moneygram stock price correction could be the occasion they have been waiting for.
On September 12th 2019, the MGI stock reached a new year high of $6.70.
The new deal that MoneyGram has made with Ripple is a game changer in the money transfer industry.
Ripple has already invested $30 million to buy MG stocks and it has an option to buy an extra $20 million at a pre-agreed price.
This partnership places Ripple in a strategic position within the remittance industry.
Indeed the Fintech company will benefits from MoneyGram's global infrastructure and well established brand.
In return MoneyGram International can expect cutting edge payment software that will allow it to compete with Market Leader Western Union. Cryptocurrencies are changing the financial world and certain business practices will soon be totally obsolete.
MoneyGram Chief Executive Officer Alex Holmes is fully aware of this transition and he clearly sees RippleNet as a giant upgrade to their previous international payment system.
Today, September 16th, the MGI stock had a healthy correction and it is currently priced at $5.51.
Many financial analyst forecast a MG stock price at $20 for 2020.
This high MoneyGram stock price prediction is mainly funded on the vast improvement on transfer execution, time saving and fee reduction allowed by the Ripple. The other factor is the buying pressure coming from new investors, mainly cryptocurrency enthusiasts, that will use the MG stock as a way to diversify out of cryptos and hedge their investment on Ripple XRP. As for the XRP price prediction, the first target is $3 before the end of 2019 then $10 in 2020 Q1.
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Please note that all our Money Gram International stock reviews and Ripple XRP price analysis are for informational purpose only. This is the expression of our personal view on the current cryptocurrency market and this should not be seen or used as financial advise.