XRP News Today: SWIFT Endorses GBBC's Blockchain Collaboration for Institutional Risk Framework

SWIFT’s Chief Innovation Officer, Tom Zschach, has publicly praised the Global Blockchain Business Council (GBBC) for its collaboration with Ripple (XRP), Hedera (HBAR), and Cardano (ADA). Zschach referred to the initiative as “commendable work,” emphasizing the inclusion of these blockchain firms as a significant step toward advancing blockchain adoption in institutional markets [1]. The collaboration is part of a broader effort to develop a Capital Markets Risk Mitigation Framework (RMF), which aims to help regulated financial institutions assess and address non-financial risks tied to public blockchain use [2].

The GBBC has invited industry participants to provide feedback on the RMF draft before October 3, signaling a commitment to collaborative and inclusive development [2]. Zschach’s remarks, shared publicly by crypto researcher SMQKE, underscore SWIFT’s recognition of blockchain’s growing role in financial infrastructure [1]. This marks a notable shift in tone compared to earlier, more ambiguous comments Zschach made regarding Ripple, where the use of quotation marks around the term “checkmate” led to speculation of sarcasm [1].

The acknowledgment of Ripple, Hedera, and Cardano has been interpreted by some observers as a positive signal from SWIFT, suggesting the organization is increasingly open to integrating blockchain solutions into traditional financial systems [1]. Analysts argue that this collaboration could lead to the development of interoperable financial tools that combine the strengths of SWIFT’s global network with the efficiency and transparency of blockchain technology [1].

Separate from the collaboration, some analysts have compared the price patterns of XRP and Ethereum (ETH) using Fibonacci extension models [3]. By using the 2018 high and 2020 low as reference points, XRP’s 1.618 Fibonacci extension projects a potential price range of $27 to $31, while ETH’s is estimated at $7,700 to $8,000 [3]. However, these projections are based purely on technical analysis and not on fundamental or regulatory factors. Analysts caution that the market’s evolution remains subject to volatility, and long-term outcomes may be influenced by a range of unpredictable variables.

SWIFT’s endorsement of the GBBC’s work, and its acknowledgment of key blockchain players like Ripple, Hedera, and Cardano, reflects a broader trend in the financial sector: an increasing willingness to engage with decentralized technologies. As the collaboration develops, it will be crucial to observe how these innovations are implemented and whether they contribute to more efficient, secure, and compliant global financial systems [1].

Source: [1] SWIFT Praises GBBC's Collaboration with Ripple (XRP)... (https://timestabloid.com/swift-praises-gbbcs-collaboration-with-ripple-xrp-hedera-hbar-and-cardano-ada/)

[2] The Real Remi Relief (https://x.com/RemiReliefX/status/1959355276173234217)

[3] XRP and ETH Rally Patterns: Why Some Analysts Are... (https://timestabloid.com/xrp-and-eth-rally-patterns-why-some-analysts-are-wrong-about-xrp-and-ethereum/)