XRP Gains 3.06% as Ripple Targets 15% of SWIFT's $5 Trillion Daily Transactions
1min read Ripple, led by CEO Brad Garlinghouse, is actively developing XRP as a modern alternative to the SWIFT network for international payment transactions. XRP aims to handle the $5 trillion in daily transactions that SWIFT currently processes, offering a more efficient and cost-effective solution. Ripple's goal is to create an automatic global payment system that could become the new standard for international transfers.
SWIFT processes approximately $1.3 quadrillion in transactions annually, presenting a significant market opportunity for XRP. If XRP were to handle just 15% of SWIFT's daily volume, roughly $750 billion, it would represent a substantial increase in usage. Ripple's technological solution addresses many of SWIFT's inefficiencies, including human-operated transactions, which occur 6% of the time, thereby creating a profitable market opportunity for Ripple.
XRP's market value is expected to rise dramatically if it achieves a 15% stake in SWIFT's daily volume. Currently, XRP is priced at about $2.07. Handling $750 billion in transactions daily would create tremendous market demand, potentially pushing the currency price past double digits. Ripple's innovative technological platform is transforming worldwide payment systems, which will build substantial value for XRP holders.
XRP's price performance has been positive, with a 3.06% increase on Monday, reaching $2.13. The token maintained its support level at $2.00 during April sell-offs due to committed buyers. Two key factors driving XRP's positive price performance are the introduction of XRP futures trading 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.
The crypto market stabilized on Monday, with $2.00 support levels limiting price drops over the weekend, creating opportunities for traders to enter XRP transactions. A buy signal from the Moving Average Convergence Divergence (MACD) indicator, along with green histograms, affirms the bullish outlook. Conservative XRP investors 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.
