- Ripple’s blockchain-powered payment solutions offer a faster and cheaper alternative to SWIFT, positioning XRP as a key player in global finance.
- If Ripple captures even a small share of SWIFT’s transaction volume, XRP’s price could see substantial gains.
According to CNF updates, Ripple has been identified as a major rival to SWIFT, with XRP poised to dominate global finance in 2024. Recent developments in Ripple’s strategic collaborations suggest that XRP could significantly impact the global financial landscape, potentially challenging SWIFT’s dominance in cross-border payments.
Ripple’s active participation in the Faster Payments Council (FPC) highlights its commitment to revolutionizing payment systems. Notably, James Sellick, a Senior Director at Ripple, holds a leadership role in the FPC, reinforcing Ripple’s influence in shaping payment innovations.
Crypto influencer Amelie recently reignited discussions by sharing a tweet referencing financial analyst Paul Barron’s insights. She quoted Barron, emphasizing:
If you look at the board & the members of the government entity ‘Faster Payments Council,’ Ripple is listed there.
WOW! 💥
IS RIPPLE ABOUT TO REPLACE SWIFT? 🌐
PAUL BARRON EXPLAINS:
IF YOU LOOK IN THE BOARD & THE MEMBERS OF THE GOVERNMENT ENTITY „FASTER PAYMENTS COUNCIL“ RIPPLE IS LISTED THERE! 📝#XRP 🤝🏼 SWIFT pic.twitter.com/FLsM2WhQw7
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) February 21, 2025
Comparative Advantages Over SWIFT
For decades, SWIFT (Society for Worldwide Interbank Financial Telecommunication) has served as the backbone of international banking transactions. However, its reliance on legacy infrastructure results in slow processing times and high transaction fees.
In contrast, Ripple leverages blockchain technology to provide a modern alternative with near-instant settlements and significantly lower costs. XRP can process cross-border payments within seconds, whereas SWIFT transactions take 1–5 business days. This efficiency makes Ripple a compelling competitor in the global financial sector.
Additionally, Ripple’s growing partnerships with financial institutions and payment service providers further establish its role as a leader in next-generation financial transactions. With regulatory bodies increasingly exploring blockchain-based solutions, Ripple’s influence in shaping the future of payments continues to grow.
Market Implications for XRP
Analysts speculate that if Ripple’s technology captures even a fraction of SWIFT’s transaction volume, XRP’s valuation could rise significantly. Some projections suggest that handling a larger share of global financial transferscould elevate XRP’s price well beyond current levels.
Furthermore, Ripple’s growing engagement with financial regulators and organizations like the FPC signals increasing mainstream acceptance.
While challenges remain, Ripple’s advancements and strategic partnerships position XRP as a formidable contender in international payments.
As of February 24, 2025, XRP is trading at $2.48, reflecting a slight decrease of 3.59% in the past day and 7.22% in the past week. See XRP price chart below.
