Pantera Founder Predicts Ripple Could Challenge SWIFT as XRP Nears $3
In a recent interview with , Pantera Capital founder Dan Morehead suggested that Ripple, the company behind the digital asset XRP, could compete with global payment giant SWIFT.
This remark followed a question about which assets to watch, later than Morehead had previously revealed significant positions in BTC and ETH.
Ripple’s blockchain is primarily recognized for facilitating instant cross-border payments. The company works closely with banks, financial institutions, and governments to assist them achieve these capabilities.
This area of operation closely mirrors that of SWIFT, which dominates the global payments sector. The key difference lies in Ripple’s execution: its transactions settle quicker and cost far less, thanks to its blockchain technology.
In contrast, SWIFT continues to face challenges, with transactions that often incur higher costs and take longer to finalize.
Ripple’s Growing Dominance
Ripple continues to make strategic moves to expand its influence in the financial industry. In one of its latest developments, to manage the bank’s cryptocurrency holdings, which include BTC and ETH. However, the partnership does not involve the custody of XRP, the bank’s native token.
This partnership aligns with the ongoing progress of the Markets in Crypto-Assets (MiCA) framework, which is gradually being put in place to support the growth and regulation of cryptocurrency-related innovations across the European market.
Notably, Ripple’s global reach has become even more prominent following its with the U.S. Securities and platform Commission (SEC), a pivotal moment for the company and the industry at large.
Ripple has also made significant inroads into Africa, where it partnered with a local beginup to enable cross-border payments using its $729 million stablecoin. This partnership marks a significant expansion of Ripple’s core services in emerging markets.
XRP’s Stagnant Performance
Despite Ripple’s expanding influence, XRP’s performance in recent days has shown little momentum. At the time of writing, the asset has viewn a modest 0.41% increase.
Trading volume also remains on the lower end, with CoinMarketCap reporting a 17% decline to $4.19 billion during this period.
According to a , XRP may still be primed for a price of $4.50, with the potential to rise as high as $8—its extremely bullish target for this market cycle. However, current market sentiment appears fragile, with both spot and derivative trading volumes remaining low, as per data from CoinGlass.
