Teucrium CEO Sal Gilbertie expressed concerns about a potential collapse of the SWIFT system, highlighting Ripple and its XRP token as likely successors.
Gilbertie's Warning on SWIFT
In the interview, Gilbertie stated that the decades-old SWIFT network could be on the brink of failure. He linked this potential downfall to Ripple’s activities, particularly its application for a banking charter and its significant XRP holdings.
>CITE_W_A "What’s Ripple going to do with its 40 billion XRP given that they filed to be a bank? One of the leading theories is they just hold that on their balance sheet, get their banking license, and become a top 20 capitalized bank in the world."
Advantages of Blockchain
Gilbertie highlighted how blockchain addresses a critical economic inefficiency faced by banks in international transfers: the need to pre-fund accounts in both the sending and receiving countries. "That all goes away," he said. "The blockchain is literally going to unlock a lot of frozen money on the banks’ balance sheets."
XRP Market and Its Dynamics
Despite Gilbertie's bullish outlook, XRP has faced renewed volatility. As of August 18, the token was trading at an 11-day low just under $3.00, after dropping 4.6% of its value over the past 24 hours and 9.1% in the last week. Analysts warn that the token’s near-term trajectory depends on reclaiming critical resistance levels.
The potential of Ripple and XRP to transform the international financial system raises significant discussions, especially given the threat of SWIFT's collapse. Meanwhile, the market dynamics will depend on XRP's ability to maintain its value at critical levels.
