XRP Aims for 20% SWIFT Market Share: Is Ripple About to Reshape the Future of Global Payments?

Ripple Labs, a cryptocurrency payment company, continues to set its ambitions for itself and XRP higher than ever as it moves closer to breaking down the global financial messaging giant SWIFT. After Ripple's CEO, Brad Garlinghouse, previously predicted that XRP could capture 14% of SWIFT's transaction volume, new estimates are now pointing to even bolder targets. How Could Ripple Securing 20% of SWIFT Impact XRP? A new report by Paul Barron, a technology expert and cryptocurrency analyst, has revealed an updated forecast on Ripple. The report highlights the increasing potential of XRP in competing with SWIFT in cross-border transactions. Ripple's ambition in the global financial infrastructure is becoming clearer, as new forecasts suggest that XRP could ultimately handle up to 20% of SWIFT's transaction volume. Notably, these new estimates were made just a month after Garlinghouse and the Ripple company predicted that SWIFT's transaction volume would reach 14% within five years. Now, with the increasing appeal of institutions, the market's growth momentum, and the rapid pace of adoption, expectations are rising sharply. SWIFT, the global messaging network used by banks and international financial institutions to securely transmit information and facilitate cross-border payment instructions, is currently processing annual transaction volumes of up to $150 trillion. Based on this enormous figure, Barron reveals that Ripple's previous forecast of a 14% transaction volume would mean $21 trillion flowing through the XRP Ledger (XRPL) annually. Although 14% of SWIFT's transaction volume is a significant figure, Ripple currently believes that XRP could handle an even larger market share in the global cross-border payment market. Based on the same calculations by Barron, if Ripple achieves 20% of SWIFT's transaction volume, the annual value flowing through the XRP Ledger will be approximately $30 trillion. This forecast highlights Ripple's growing confidence in XRP as a viable alternative to the decades-old SWIFT network. The company has consistently stated its goal to replace SWIFT, with XRP becoming a key factor in transforming the global payment structure. The Expansion Potential of XRP and Its Impact on the Market The vision of XRP processing a large volume of SWIFT transactions annually poses significant impacts on its scalability, long-term utility, and valuation. With such scale, XRP will not only serve as a bridge currency for remittances but also become a pillar in the future of traditional financial markets and digital currencies. Ripple's strategy revolves around overcoming the traditional SWIFT system, which has long been criticized for slow processing times and high costs. XRPL, with its ability to process transactions almost instantly and low transaction fees, is a modern alternative capable of streamlining large-scale transactions. This extended use case could raise the price of XRP, potentially pushing its current price to an unprecedented high of $2.78. If Ripple can fulfill its prediction and capture 20% of SWIFT's transaction volume, this will be a turning point not just for the company but for the entire cryptocurrency industry $XRP. {spot}(XRPUSDT)