Ripple aims to transform international payment systems by seeking to replace the outdated SWIFT model using blockchain technologies. As the international transfer market is valued at $194 trillion, Ripple seeks to implement efficient and quick solutions.
Ripple Wants to Replace SWIFT
Ripple CEO Brad Garlinghouse emphasized in a recent interview that the company’s main goal is to replace SWIFT, not collaborate with it. Established in the early 1970s, SWIFT controls a significant portion of global cross-border transactions. Garlinghouse states that SWIFT's architecture is outdated and there is an opportunity to implement new technologies such as Ripple to streamline and expedite payments.
XRP Price Predictions and Factors Involved
According to Grok3 calculations, if Ripple can process $20 trillion per year in international payments, the price of XRP might rise to $48.89. This estimate accounts for circulating supply and demand generated through its utility functions. Increased volumes passing through Ripple’s system would lead to higher liquidity demand and an increase in XRP's price.
Future of XRP and Its Potential
The international payment market is expected to grow from $194 trillion to $320 trillion over the next decade. If Ripple successfully implements its technologies, XRP could become one of the most used digital assets. Predictions indicate a potential rise in XRP's price by nearly 15 times if Ripple can capture a share of the international payment sector. The increasing number of long-term holders of XRP also supports significant price fluctuations.
Ripple is making significant strides to transform international payments, which could affect XRP's future. Such an approach may create new opportunities for the digital asset if Ripple successfully implements its technology in the global financial system.
