XRP News Today: XRP Challenges SWIFT’s Grip as Banks Question Trust in Ripple’s Vision

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XRP's recent surge in payment volume and growing adoption in institutional and retail markets has sparked renewed interest in its role as a potential alternative to traditional cross-border payment systems. Canary Capital CEO Steven McClurg recently highlighted XRP as the second most popular cryptocurrency among financial institutions, trailing only Bitcoin but outpacing Ethereum, a shift attributed to XRP's cross-border utility, regulatory clarity in the U.S., and anticipation of exchange-traded funds (ETFs) tied to the token. McClurg projected that XRP ETFs could attract up to $5 billion in first-month inflows, surpassing Ethereum funds and signaling growing institutional confidence in XRP as a settlement asset and SWIFT alternative [1].

The increased adoption of XRP is also evident in the Korean market, where the token dominated trading activity on Upbit, South Korea’s largest cryptocurrency exchange. On a single 24-hour period, Upbit recorded $4.33 billion in trading volume, with XRP/KRW pairs accounting for 16.9% of total trading activity—approximately $731 million. This dominance underscores XRP’s appeal to Korean traders, who favor the token for its liquidity, low transaction costs, and perceived stability relative to other altcoins. Analysts suggest that XRP’s relatively low price per token makes it an attractive option for retail investors seeking exposure to potential price swings without the high entry costs associated with Bitcoin or Ethereum [1].

Despite XRP’s rising popularity, institutional trust in Ripple and its native token remains under scrutiny. Tom Zschach, Chief Innovation Officer at SWIFT, recently questioned whether Ripple’s resilience in regulatory battles equates to the trust that banks seek. He emphasized that institutional adoption hinges not on a single firm's regulatory success but on shared governance models that ensure neutrality and compliance. Zschach noted that public blockchains, including those supporting XRP, are powerful tools for deterministic and programmable settlement but require a “trust layer” of legal enforceability, compliance, and privacy. He warned that without this layer, public chains risk being perceived as “fast engines with no cockpit” [4].

Meanwhile, Bitcoin faces a historically challenging period in September 2025, with the cryptocurrency beginning the month at $108,253—a 0.49% drop from the previous day and a 6.5% decline from its August peak. Analysts have cited both seasonal patterns and technical breakdowns as potential factors in the ongoing downward trend. Yuri Berg from FinchTrade explained that many investment funds close their fiscal year in September, leading to portfolio rebalancing and tax-loss harvesting that could exacerbate selling pressure. Despite these bearish indicators, some experts, including Rekt Fencer, argue that Bitcoin could avoid a “Red September” scenario by replicating its 2017 performance, in which the asset found support after August weakness before rallying. Key support levels are currently around $104,000, and technical indicators like the RSI and MACD suggest that while the price has declined, the market may not be as weak as the charts indicate [2].

The broader crypto market is also showing signs of a potential “altcoin season,” where alternative cryptocurrencies outperform Bitcoin. CoinMarketCap’s Altcoin Season Index has risen to 53 out of 100, signaling growing interest in non-Bitcoin assets. David Duong from Coinbase Institutional noted that Bitcoin’s dominance has declined from 65% in May to 59% in August, a classic indicator of altcoin season. This shift is being driven by macroeconomic factors such as the Federal Reserve’s expected rate cuts, which could inject liquidity into risk assets, and the growing adoption of stablecoins, which provide the necessary fuel for altcoin rallies. Solana and Hyperliquid have already seen significant gains in recent weeks, with Cronos (CRO) experiencing a historic surge due to its integration with Trump Media’s Truth Social platform [3].

In summary, the crypto market is experiencing a complex interplay of institutional interest, retail adoption, and macroeconomic factors. XRP’s rising popularity in both institutional and retail markets, particularly in South Korea, highlights its potential as a cross-border payment solution and ETF asset. However, SWIFT’s critique underscores the challenges Ripple faces in gaining broader institutional trust. Meanwhile, Bitcoin’s potential for a seasonal correction and the emergence of an altcoin season suggest a dynamic and evolving market landscape, where liquidity, governance, and regulatory clarity will continue to shape investor behavior and asset performance.

Source:

[1] Canary Capital CEO Calls XRP Wall Street's No.2 — Upbit Volume Rockets to $4.33B (https://coinpaper.com/10832/canary-capital-ceo-calls-xrp-wall-street-s-no-2-upbit-volume-rockets-to-4-33-b)

[2] How Low Can Bitcoin Go in September 2025? BTC Price Predictions Analysis (https://www.financemagnates.com/trending/how-low-can-bitcoin-go-in-september-2025-btc-price-predictions-analysis/)

[3] Altcoin Season? These Coins Are Soaring as Bitcoin and ... (https://finance.yahoo.com/news/altcoin-season-coins-soaring-bitcoin-202118188.html)

[4] Banks Won't Trust Ripple And XRP, SWIFT CIO Says (https://www.mitrade.com/insights/news/live-news/article-3-1090118-20250903)