XRP Price Revealed with 10 of SWIFT Transactions Completed

Beloved community icon Amelie has made a bold prediction regarding the potential for XRP’s price to skyrocket if its underlying network, XRPL, is utilized for 10% of SWIFT’s transactions.
In a recent social media post, Amelie criticized SWIFT (Society for Worldwide Interbank Financial Telecommunication), asserting that XRP offers a superior option for cross-border settlements.
Ripple Takes Aim at SWIFT’s Speed
In another recent post, Amelie highlighted a Ripple advertisement that stated, “SWIFT isn’t fast enough.” This statement served as Ripple’s subtle dig at the transaction processing speed of the global financial messaging giant.
Interestingly, Ripple recommended that financial institutions consider adopting its solution for instant cross-border value transfers.
Amelie weighed in on the comparison of transaction speeds between SWIFT and XRP, noting that while SWIFT transactions typically take three to five business days to complete, XRP transactions can be finalized in just four seconds.
Building on this comparison, Amelie reiterated Ripple’s stance, emphasizing that SWIFT falls short in terms of speed when compared to XRP.
XRP’s Potential to Reach $1,000 With SWIFT Transactions
As a result, the enthusiast speculated that XRP could potentially reach a price exceeding $1,000 per token if 10% of all SWIFT transactions were processed through the XRPL blockchain. However, Amelie did not delve into the specifics of how XRP could reach this milestone.
Could XRP Take Over SWIFT?
Over the years, many in the crypto community have drawn comparisons between XRP and SWIFT. Notably, renowned crypto asset manager Grayscale has positioned XRP as a viable alternative to SWIFT. Some have even gone as far as to suggest that XRP could eventually replace SWIFT due to its slower transaction processing.
The potential replacement of a well-established system like SWIFT by XRP would require more than just community support. Factors such as the resolution of the SEC lawsuit, increased institutional adoption of XRP, and significant commercial partnerships leveraging Ripple’s payment solution could all play crucial roles in determining whether XRP replaces or integrates with SWIFT.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The opinions expressed in this content are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic holds no responsibility for any financial losses incurred.