Ripple's $21 trillion ambition: What does capturing 20% of SWIFT's volume mean for XRP?

Ripple's goal: to capture 20% of the global cross-border payment market

Ripple Labs, as a crypto payment company, is gradually realizing its ambitions. With Ripple CEO Brad Garlinghouse previously predicting that XRP would capture 14% of SWIFT's transaction volume within five years, a new report suggests that Ripple's goal may be even more ambitious - XRP could ultimately account for 20% of SWIFT's total transaction volume.

Latest Predictions for Ripple Targets

Paul Barron, a technology expert and crypto analyst, revealed updated predictions for Ripple in his latest report. The report indicates that XRP is on the rise and has the potential to compete head-to-head with SWIFT in cross-border transactions. As Ripple continues to attract institutional investors and market momentum increases, the market outlook for XRP is becoming increasingly promising.

Currently, the global financial information exchange network SWIFT processes approximately 150 trillion USD in transactions annually. Based on this massive data, Barron calculates that Ripple's previously predicted 14% transaction volume share means that 21 trillion USD will flow through the XRP Ledger (XRPL) each year. If Ripple successfully captures 20% of SWIFT's transaction volume, this figure will soar to 30 trillion USD.

SWIFT vs XRP: The Competition of Future Payment Networks

SWIFT is a communication network used by global banks and financial institutions to securely transmit information and cross-border payment instructions. SWIFT currently handles an annual transaction volume of up to 150 trillion USD, which provides a basis for Ripple's predictions. Although Ripple's previous forecasts have been impressive, with the expansion of XRP's use cases, Ripple is now confident that XRP can capture a larger market share.

If Ripple can achieve this goal, XRP will no longer be just a bridge currency for traditional remittances; it will become an important pillar of the global payment network, bringing revolutionary changes to the global financial market.

The Expansion Potential of XRP and Its Market Impact

XRP's ability to handle 20% of SWIFT transaction volumes will have a significant impact on its scalability, long-term utility, and market valuation. With lower transaction fees and near-instant settlement speeds, XRP could become a modern alternative to the global payment infrastructure, replacing SWIFT, which has been a legacy system for decades.

Ripple's strategy is to surpass the traditional payment network of SWIFT, which has long been criticized for slow settlement times and high costs. In contrast, the XRP Ledger offers a more efficient, faster, and lower-cost transaction method, enabling cross-border payments at a larger scale.

XRP Future Price Potential

As the application scenarios of XRP in the global payment field continue to increase, the market prospects of XRP are gradually becoming clear. If Ripple can successfully achieve its goals, the market value and price of XRP may see a significant increase. If XRP can capture 20% of SWIFT's transaction volume, the current price of XRP (2.78 USD) could experience a new breakthrough, potentially reaching higher levels that have never been touched before.

(Source: NewsBTC)