MoneyGram Launches MGUSD Stablecoin, Limited Impact on Ripple

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

XRP-3.471%

XLM-10.326%

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Launch of MGUSD: MoneyGram has introduced the MGUSD stablecoin on the Stellar blockchain, integrated as a non-custodial wallet within its app, with plans for a global rollout across 500,000 cash-in and cash-out locations, aiming to bridge digital dollars and physical cash to enhance user experience.
Strategic Shift: While the media frames this as a snub to Ripple, the partnership had already ended in 2021, meaning the launch of MGUSD does not directly impact XRP, but rather further diminishes its role as a bridge asset.
Revenue Potential: By issuing MGUSD, MoneyGram can control the dollar assets held by users, allowing it to earn interest on those funds, which not only enhances liquidity but also creates a new revenue stream, reflecting a strong demand for stablecoins in the payment industry.
Increased Market Competition: As more payment companies opt to issue their own stablecoins, the necessity of XRP as a bridge asset is challenged, with MoneyGram's move signaling a shift in the industry towards proprietary stablecoins, potentially affecting XRP's market position and future growth.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.875	0.985	1.074	1.184	1.272	1.382	1.471
Fibonacci	0.985	1.061	1.108	1.184	1.259	1.306	1.382

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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