<span style="font-weight: 400">Ripple sells $15M worth of stocks from its 2019 investment in MoneyGram. This has been <a href="https://sec.report/Document/0001104659-20-132515/" target="_blank" rel="nofollow noopener">revealed</a> through a filing with the U.S. Securities and Exchange Commission on Friday. Moreover, the firm has managed to sell 2,264,113 shares of MoneyGram, which it has acquired through <a href="https://www.cryptoknowmics.com/news/3-key-notes-on-the-new-partnership-between-ripple-and-moneygram/">partnership</a>. From this sale, Ripple has raised $15,303,792.60 from its total investment. Additionally, this seems that the partnership with MoneyGram is paying off now well for Ripple. </span>
<h2><b>MGI Slips Back to $6.54 as Ripple Sells $15M Stocks</b></h2>
<span style="font-weight: 400">In the past few months, it has been seen that the stock value of MoneyGram (MGI) has managed to increase from $2.94 to $8.53. As Ripple sells $15M of the stocks, MGI slips back to $6.54. When the partnership was announced in 2019, both firms were not in a good position. MoneyGram was in the news due to a possible <a href="https://www.cryptoknowmics.com/news/western-union-makes-offer-to-purchase-moneygram/">acquisition by Western Union</a>. However, by the starting of this year, the firms have somehow managed to stay at peace. Also, both firms have managed to successfully grow their use and market capitalization.</span>

<span style="font-weight: 400">According to one of <a href="https://www.cryptoknowmics.com/news/western-union-studying-ripples-paas-model-for-cross-border-payment-service/">Ripple’s spokesperson</a> has said that their firm is a proud partner of the digital growth transformation of MoneyGram. He said: </span>

<i><span style="font-weight: 400">“This is purely a judicious financial decision to realize some gains on Ripple’s MGI investment and is in no way a reflection of the current state of our partnership."</span></i>
<h2><b>Major Investment Was Done Back in June 2019</b></h2>
<span style="font-weight: 400">Ripple’s partnership with MoneyGram is not something new, as the firm had made its major investment into this partnership in June 2019. In order to speed up the investment, the firm has used <a href="https://www.cryptoknowmics.com/news/ripple-pays-151m-to-moneygram-in-q2-of-2020/">xRapid technology</a>. XRapid technology majorly takes XRP into use which helps to get proper liquidity. Currently, Ripple is having 48 million XRP and the price of the token is increasing rapidly, which will ultimately increase the total market capitalization of the firm. </span>

Ripple Sells $15M of Its 2019 Investment in MoneyGram

Ripple sells $15M worth stocks from its 2019 investment in MoneyGram as revealed by sthe recent filing with Securities and Exchange Commission.

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

Ripple Sells $15M of Its 2019 Investment in MoneyGram

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