We recently wrote an article about Ripple XRP and their collaboration with Western Union, news of this merge has been rinsing the headlines this week, for good reason too.
Just to re-cap, Western Union is an American financial service company. Customers can use Western Union to transfer funds to friends, family and other people via a range of methods, at present cryptocurrency transfer is not one of those methods.
Well, until very soon that is.
The rumoured date for the Ripple X Western Union collaboration to go live is the 18th of April 2018, exactly three weeks today. This is certainly much sooner than expected, with no official announcements from Ripple as of yet, it is safe to assume at this point, this is just a rumour. If it is true however, then this could accelerate not only the value of XRP, but more importantly, it could accelerate the rate at which we see cryptocurrency adopted as a real life, store value currency.
The rumour comes from Cryptocurrency Youtuber, you can see his most recent video on the topic here- https://www.youtube.com/watch?v=rWu80epe62g
In the video, Cryptocurrency Youtuber talks about how this collaboration can put cryptocurrency in the ‘hands of people all around the world’ introducing a brand-new format and application for the world of banking. It must be mentioned (and sure, he mentions it) that big news like this does expose the volatility of cryptocurrency and I expect that from the outset, on the 18th of April (if indeed the date is accurate), the value of Ripple will yo-yo for some time, I do wonder if collaboration into the mainstream will scare some investors off? Ultimately, it will bring more investment in eventually, if not simply just through interactions within Western Union, overall however I’m pretty sure some people will back out at this point with a slight hint of FUD-syndrome.
Cryptocurrency Youtuber predicts that overall, cryptocurrency will see a shift in who uses cryptocurrencies between April and May, not just as a result of the Ripple X Western Union collaboration, although he does believe that Ripple will be and the forefront of this. He refers to this as a ‘paradigm shift’, this is a change in discourse, a change in assumptions, this is a great way to describe what cryptocurrency adoption can achieve, as people’s opinions change, markets will grow.
Generally, the video provides a great insight into the Ripple rumour mill. Give it a watch if you want to delve deeper into this… I’ll reiterate once more however, the 18th of April is just a rumour, a powerful one at that, but regardless of that, keep your eyes on the news folks, it’s full steam ahead now!