MoneyGram CEO Alex Holmes discussed which altcoin network is best for cross-border payments in an interview with Fortune magazine. The altcoin highlighted by the CEO has the potential to increase by 24,950% according to historical models.
Best altcoin network for cross-border payments, according to Alex Holmes
Holmes, CEO of P2P payments and money transfer company MoneyGram, discusses the position of Ripple and cryptocurrency XRP in cross-border payments. MoneyGram ended its partnership with Ripple in 2021 following the SEC lawsuit. The money transfer company then began working with rivals USDC and XLM. Holmes talks about the difficulties of this transition and says that people are still looking for such payment methods rather than fiat money.
Ultimately, Holmes’ interview highlights the ongoing efforts of remittance companies like MoneyGram to navigate the crypto world. The company presents some challenges with adopting cryptocurrencies like XRP. Meanwhile, it is actively looking for ways to leverage other cryptocurrencies to improve cross-border payment efficiency.
Crypto analyst Egrag made a $140 XRP price prediction
Egrag, which has been making headlines for a while with its high-bar XRP predictions, included a wide price range in the range of 10 to 124 dollars in its current analysis. Egrag’s estimates are based on historical models. The analyst suggests that XRP’s past performance can provide insight into its future trajectory.
Accordingly, the $10-$124 range, which coincides with the 1.618 and 2.618 fibonacci levels, is currently the historical zone for XRP bulls to watch. The crypto analyst expects a 24,950% increase in the XRP price over the long term. cryptocoin.com We have included the analyst’s four-stage XRP roadmap in this article.
Metrics support altcoin price
While Egrag awaits the bullishness offered by historical patterns, on-chain metrics show that XRP has been recovering recently. After two days of persistent gains, XRP skyrocketed to $0.5658 on June 13 following the release of the Hinman documents. This move was the second highest price of XRP this year. It was below the $0.5850 price on March 29.
Current metrics show an increase in whale accumulation and potential recovery. Notably, the massive drop observed on June 16 saw XRP drop to $0.4558. This ended with a retest of the 200 Exponential Moving Average (EMA).
If XRP’s price touches the 200 EMA, it will drag the price back above the critical $0.50 zone. The data show that this is a special accumulation zone. On June 9, whales accumulated more than 1.1 billion XRP at this price level. Analyst Dark Defender reports that with the recent market momentum, XRP has broken a 777-day downtrend. This brings up the targets of $3.3 for the altcoin.
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