- Ripple aims to disrupt SWIFT’s outdated system by offering faster, cost-effective cross-border transactions using on-demand liquidity (ODL).
- Ripple’s expanding adoption, fueled by the SEC case resolution, could drive XRP’s price toward the $5 mark if key resistance levels are broken.
XRP has been holding steady this week, trading at $2.40, despite a major statement from Ripple CEO Brad Garlinghouse about the company’s ambitious plans to rival SWIFT. With XRP up 28% from its monthly lows, investors are closely watching whether the token can surge past $5.
Ripple vs. SWIFT: A Battle for Global Transactions
In a recent interview with Fox Business’ Maria Bartiromo, Garlinghouse expressed confidence that Ripple could become a strong competitor to SWIFT, the dominant player in global banking transactions. He emphasized that SWIFT’s 50-year-old system is ripe for disruption, pointing out that while transaction speeds have improved, cross-border payments through SWIFT still take days to complete.
Ripple, on the other hand, boasts a faster, more cost-efficient alternative. Using on-demand liquidity (ODL), Ripple can facilitate transactions in mere minutes at a fraction of the cost. The company’s technology converts fiat currency into Ripple , transfers it across borders, and converts it back into the local currency, significantly reducing processing times and fees.
The SEC Case Resolution and U.S. Expansion
Garlinghouse noted that the conclusion of Ripple’s legal battle with the SEC has paved the way for increased adoption in the U.S. Within six weeks of Donald Trump’s election, Ripple signed up more U.S. banks and payment companies than in the previous six months combined. This renewed momentum could further drive XRP’s utility and price action.
XRP Price Outlook: Can It Hit $5?
XRP’s price action suggests a potential breakout. The token has formed a bullish pennant pattern on the weekly chart, supported by the 50-week and 100-week moving averages.
Key resistance lies at $3, which coincides with the shoulders of a head-and-shoulders pattern. A decisive move above this level could propel XRP toward the $5 mark, representing a 105% gain from its current price. However, a drop below $1.966 would invalidate the bullish outlook.
With SWIFT handling over $150 trillion annually and Ripple rapidly expanding its reach, the battle for dominance in global transactions is heating up. If Ripple’s adoption continues at this pace, an XRP price surge beyond $5 may not be far-fetched.
