News - Ripple deal: Will the XRP price drop?

By Ted Maas

Ripple deal: Will the XRP price drop?

Ripple (XRP)

The price of Ripple (XRP) could be at risk due to the possible bursting of the Metaco deal. The story goes like this:

It has been an exciting year for Ripple fans. The XRP token has performed well over the past two months. Positive prospects in the legal dispute with the SEC provided a boost. Network activity also increased significantly. However, the current developments may cause XRP fans to expect a dip.

Citigroup reconsiders Metaco deal

According to U.S. business magazine Bloomberg, a strategically important deal for Ripple is faltering. Wall Street bank Citigroup is reconsidering its partnership with Swiss fintech company Metaco. Indeed, the company behind Ripple bought Metaco last month for US$250 million.

Citigroup wanted the partnership to move forward in digital assets. Ripple would presumably have benefited greatly from this. Should the deal actually fall through, the purchase of Metaco could turn out to be a huge bad investment by Ripple. With, of course, negative consequences for the XRP price.

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