SAN FRANCISCO, Calif. – Ripple (XRP) which is in the top three cryptocurrencies also did not escape the huge wave of market crash leaving them at $0.50 value. It is way too far from their highest record of $4 at the beginning of this year. With the recent adaptation of Cobalt algorithm as well as their partnership with MoneyGram and Hyperledger, there is a chance that they will get back on track and reach $1 value.
According to Ethereum World News, the official announcement regarding the adaptation of Cobalt algorithm was made to the public on March 27, 2018. What does this mean to the public? Integration to the current system of XRP will produce faster Ripple transactions with seamless user experience. An updated XRP technology will invite the interest of other entities such as financial institutions and money transfer services.
Back in January, it was announced by Brad Garlinghouse (CEO of Ripple) that they are partnering up with a well-known money transfer institution but have yet to confirm any details. People could not help but speculate between the two big names in money transfer, Western Union and MoneyGram. It was confirmed that the partnership would be with the latter.
The good news is MoneyGram has recently partnered with Walmart and came up with the project called Wallmart2World. This project aims to provide world remittance service which explains the partnership.
Currently, MoneyGram is testing xRapid, Ripple’s payment solution. So far it is delivering optimal security on the blockchain and fast and affordable transaction. There is no timeline for the testing and implementation yet, but once it has been completed this will boost Ripple’s performance in no time.
On March 28, Ripple (XRP) has partnered this time with Hyperledger. It is an open source created to cater and advance cross-industry in blockchain technologies. This platform is hosted by Linux foundation but is globally maintained by various industries. Ripple is working on modifying the existing ILP algorithm to accommodate demands for the operation related to the blockchain.
When everything falls into places, there is no doubt that these three events will put Ripple (XRP) back in the market at $1 value.