Ripple's CEO, Brad Garlinghouse, predicts that XRP could soon capture a portion of SWIFT's transaction volume. Meanwhile, Circle's USDC recently launched on the XRP Ledger (XRPL). Both of these developments could significantly boost XRP's price, considering the role of this altcoin in the XRPL ecosystem.
XRP Price Soars Thanks to Predictions by Ripple's CEO Garlinghouse
At the XRPL Apex conference, Brad Garlinghouse predicted that XRP could capture 14% of the volume that SWIFT processes by 2030. He noted that SWIFT has two main components: messaging and liquidity. The Ripple CEO added that liquidity is where the power lies, and if XRP drives the liquidity layer, it will increase significantly. This could also potentially explode the price of XRP in the process.
Ripple uses XRP for its payment services, which run on XRPL. In this case, Ripple is betting on capturing 14% of SWIFT's transaction volume due to the speed and ease of processing these cross-border transactions using blockchain technology. SWIFT does not, as this platform focuses more on interbank messaging for these cross-border transactions.
In a now-deleted X post, XRP supporter lawyer John Deaton commented on this prediction and its implications for the price of XRP. He stated that SWIFT processes about 5 trillion dollars in transactions every day. This means that 14% of SWIFT's daily market volume is equivalent to 700 billion dollars per day or about 175 trillion dollars per year. Deaton did not provide a specific price prediction based on these figures.
However, Fruition, another member of the XRP community, has put forward a calculation that could drive the price of XRP to three digits. In a post on X, they noted that SWIFT moves $150 trillion each year, and 14% of that is $21 trillion. Fruition further stated that $21 trillion through XRPL means 58 billion tokens, equivalent to $357 for the price of XRP.
Circle's USDC Launches on XRPL
In a post on X, Circle announced that their stablecoin USDC is now available on the XRP Ledger, another development benefiting the price of XRP. This stablecoin company noted that XRPL users can now use USDC to provide DeFi liquidity, make payments, and it can also serve as a payment option for infrastructure applications.
Crypto analyst Moon Lambo analyzed why the launch of USDC on XRPL is beneficial for the XRP price. He stated that this development will significantly increase the total value locked on the network, which is a key forecasting factor for whether the XRP price will rise or not. The crypto analyst added that this provides additional utility for XRP. He noted that this altcoin will be used to pay gas fees for every USDC transaction on the network.
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Ripple Plans to Capture 14% of SWIFT Transaction Volume: What Does This Mean for XRP Price?
Ripple's CEO, Brad Garlinghouse, predicts that XRP could soon capture a portion of SWIFT's transaction volume. Meanwhile, Circle's USDC recently launched on the XRP Ledger (XRPL). Both of these developments could significantly boost XRP's price, considering the role of this altcoin in the XRPL ecosystem. XRP Price Soars Thanks to Predictions by Ripple's CEO Garlinghouse At the XRPL Apex conference, Brad Garlinghouse predicted that XRP could capture 14% of the volume that SWIFT processes by 2030. He noted that SWIFT has two main components: messaging and liquidity. The Ripple CEO added that liquidity is where the power lies, and if XRP drives the liquidity layer, it will increase significantly. This could also potentially explode the price of XRP in the process.
Ripple uses XRP for its payment services, which run on XRPL. In this case, Ripple is betting on capturing 14% of SWIFT's transaction volume due to the speed and ease of processing these cross-border transactions using blockchain technology. SWIFT does not, as this platform focuses more on interbank messaging for these cross-border transactions. In a now-deleted X post, XRP supporter lawyer John Deaton commented on this prediction and its implications for the price of XRP. He stated that SWIFT processes about 5 trillion dollars in transactions every day. This means that 14% of SWIFT's daily market volume is equivalent to 700 billion dollars per day or about 175 trillion dollars per year. Deaton did not provide a specific price prediction based on these figures. However, Fruition, another member of the XRP community, has put forward a calculation that could drive the price of XRP to three digits. In a post on X, they noted that SWIFT moves $150 trillion each year, and 14% of that is $21 trillion. Fruition further stated that $21 trillion through XRPL means 58 billion tokens, equivalent to $357 for the price of XRP. Circle's USDC Launches on XRPL In a post on X, Circle announced that their stablecoin USDC is now available on the XRP Ledger, another development benefiting the price of XRP. This stablecoin company noted that XRPL users can now use USDC to provide DeFi liquidity, make payments, and it can also serve as a payment option for infrastructure applications.
Crypto analyst Moon Lambo analyzed why the launch of USDC on XRPL is beneficial for the XRP price. He stated that this development will significantly increase the total value locked on the network, which is a key forecasting factor for whether the XRP price will rise or not. The crypto analyst added that this provides additional utility for XRP. He noted that this altcoin will be used to pay gas fees for every USDC transaction on the network.