Since its launch, experts have considered XRP a powerful alternative to SWIFT’s control in international payment transactions. According to recent analyses, XRP price will experience substantial growth when it processes 15% of the transactions SWIFT handles daily. This section analyzes the substantial impact that XRP would have on worldwide financial operations.
What Happens If XRP Takes Over 15% of SWIFT’s Market Share?
CEO Brad Garlinghouse leads Ripple in developing XRP as an improved modern payment system over the outdated SWIFT network. XRP presents itself as a solution to handle the $5 trillion daily transactions, which SWIFT currently processes at lower costs through its enhanced efficiency. Ripple strives to establish an automatic global payment system through XRP, which has the potential to become the upcoming standard for international transfers.
XRP gains an enormous market opportunity because SWIFT handles $1.3 quadrillion in annual transactions. The market value of XRP would significantly increase if it processed only 15% of the available transaction volume. Ripple’s technological solution solves nearly all of Swift’s inefficient operations, including human-operated transactions, which occur 6% of the time, thus generating a profitable market opportunity for Ripple.
Is XRP Ready to Compete with SWIFT?
XRP’s market value will rise dramatically after achieving a 15% stake in SWIFT’s daily volume. XRP currently holds a market price of about $2.07. The daily handling of $750 billion transactions by XRP would create tremendous market demand, which could push the currency price past double digits. Ripple uses its innovative technological platform to transform worldwide payment systems, which will build substantial value for XRP holders.
XRP trading prices rose 3.06% on Monday to reach $2.13 when measured at writing time. The XRP token maintained its support level at $2.00 during April sell-offs because buyers were committed to purchasing the asset. Two important elements driving XRP’s positive price performance are the XRP futures trading service introduced by Coinbase Derivatives and increasing open interest levels. The XRP price shows buy signals and positive market sentiment, suggesting it will break out to $3.00.
XRP Price Outlook: Bullish or Bearish Trend Ahead?
The crypto market stabilized on Monday as $2.00 support levels limited price drops over the weekend, thus creating opportunities for traders to enter XRP transactions. A buy signal from the Moving Average Convergence Divergence (MACD) indicator alongside the green histograms affirms the bullish outlook.
XRP investors showing conservatism should buy only after the MACD indicator generates a buy signal while crossing above its neutral line. The Relative Strength Index (RSI) broke its descending trendline resistance, signaling that the bulls might gain control over the market. The trading resistance of around $2.21 comes from the 50-day Exponential Moving Average, and traders should monitor support at $2.00 and the 200-day EMA at $1.96. Breaking these two obstacles would create a pathway to $3.00 with minimal challenges.
A drop in trading support from $2.00 would result in a faster price decline toward $1.96, representing the 200-day EMA. If volatility intensifies, the XRP price could revisit its April low point at $1.62, causing market liquidations and early profit-taking.
Source: Coinfomania / Digpu NewsTex