Ripple has bounced back to $2.06 after the game-changing news that South Korea is preparing a bill to ban cryptocurrency trading that affected the entire crypto family.
Ripple has a significant speed advantage over bitcoin, making it more attractive to mainstream firms like MoneyGram. A typical transaction on the XRP network takes between two to three seconds. A bitcoin transaction can take nearly an hour! MoneyGram said in a statement: "XRP remains the most efficient digital asset for payments with transaction fees at just fractions of a penny, compared to bitcoin fees of about $30 per transaction.
If moneygram sign a contrat with ripple to reduce the fees and transaction time that means that the concurrent as ( western union, worldRemit, UAE Exchange ...) will do the same . In my point of view XRP will stagnate during few weeks before to takeoff again
Expect more XRP partnership news this month, which will positively move the price upward in my opinion. Also, the South Korea news was not accurate at all. They are not banning crypto currency, this was reported incorrectly. They are shutting down exchanges that do not comply with new regulations, so nothing to worry about because the large exchanges that transact XRP are compliant so not affected. I assume everyone will figure this out that the news was wrong soon enough.