The price of XRP could see a significant boost if leading remittance firms like Western Union and MoneyGram integrate the cryptocurrency into their global settlement operations. Western Union and MoneyGram are among the largest players in the international remittance industry. Collectively, they facilitate over $350 billion in transfers annually , with Western Union accounting for approximately $150 billion and MoneyGram processing over $200 billion. Given the scale of their operations, any meaningful implementation of XRP in their transaction systems could have a considerable effect on the asset’s market value. Estimating XRP’s Price Based on Full Integration To estimate the potential price impact, a query was posed to OpenAI’s ChatGPT, which returned two separate projection models. The first model assumes complete adoption of XRP by both companies, with each holding substantial XRP reserves to ensure quick and efficient transaction settlements. According to this model, around $4.79 billion in XRP would need to be reserved as operational capital. To maintain market stability and prevent liquidity bottlenecks, an additional $14.37 billion in circulating XRP would be required. This base demand was then multiplied by a factor of 50 to reflect speculative trading, investor sentiment, and long-term holding characteristics that have historically influenced the performance of assets like Bitcoin. Under these assumptions, XRP’s value could rise to approximately $12 . The second projection presents a more aggressive outlook. It considers a scenario in which both Western Union and MoneyGram abandon all fiat corridors in favour of XRP for every transaction. This model adjusts for real-world constraints, such as regulatory delays and liquidity locks, by reducing the expected turnover rate of XRP to 1.5 times per year. In this scenario, the firms would need to hold enough XRP to cover their entire annual transaction volume, which places total XRP demand at roughly $700 billion. Dividing this figure by the available circulating supply of 59.23 billion XRP yields a base price of $11.82. Factoring in a multiplier of 8, representing market enthusiasm, long-term accumulation, and potential institutional adoption, the projected price escalates to $94.56. Importantly, these figures reflect the potential value based solely on integration by these two remittance giants. They do not account for other possible use cases, such as adoption by central banks or additional remittance providers, nor do they consider XRP’s deflationary mechanisms. With broader usage, surpassing the $100 mark becomes a conceivable scenario. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Ripple’s Past Partnerships with the Firms Ripple has had previous engagements with both Western Union and MoneyGram . In 2019, Ripple and MoneyGram entered into a partnership enabling the latter to utilize Ripple’s xRapid product for cross-border settlements. Ripple also invested up to $50 million in MoneyGram’s equity during this time. However, the relationship ended in early 2023 following Ripple’s legal issues with the U.S. Securities and Exchange Commission, prompting MoneyGram to halt its use of XRP. Western Union’s interaction with Ripple dates back to 2015, during which it conducted pilot tests using Ripple’s xRapid solution. Despite initial trials, Western Union never moved forward with full-scale adoption. While neither Western Union nor MoneyGram currently uses XRP for settlement, the scale of their operations positions them as potential catalysts for significant price growth if adoption occurs. Theoretical projections show a possible path toward a multi-fold increase in XRP’s value, particularly if supported by favourable market conditions and increased institutional interest. However, these outcomes remain speculative and dependent on many external factors, including regulatory developments and the companies’ strategic directions. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Projected XRP Price if Western Union and MoneyGram Adopt It appeared first on Times Tabloid .
