Ripple (XRP) Brad Garlinghouse says: Ripple is taking over SWIFT

Ripple (XRP) is redefining its presence in the market, particularly the remittance sector. This sector has been dominated by traditional systems like SWIFT. However, the chief executive officer, Brad Garlinghouse reckons that the network is taking over SWIFT’s market share by a bang. Moreover, in a recent interview with Bloomberg, the CEO clarified that the rumors of Ripple and SWIFT integration are just that, rumors. He clarified:

“Strictly rumors. There’s lots of rumors and I’m hesitant to comment on any rumor, because if you comment on the false rumors then you have to comment on the true rumors. And so you just avoid all of them.”

Garlinghouse says that at the moment, partnering with SWIFT is rather irrelevant. He believes that the payment and money transfer that the company has developed are enough to unseat SWIFT taking over the global cross-border remittances. Brad continued:

“I think what we’re doing and executing on a day-by-day basis is, in fact, taking over Swift. In that, we’ve now signed up well over 100 banks. Some of the largest Swift-enabled banks in the world are now using Ripple’s technology.

In addition to that Garlinghouse said:

“We feel like we’re here to help the banks. Swift is owned by the banks. There have been opportunities where maybe there’s partnership opportunities. We haven’t been able to bring those to fruition. But we’re going to keep focusing on solving the customer problem. Swift said not that long ago that they didn’t see blockchain as a solution to correspondent banking. We’ve got well over 100 of their customers saying they disagree.”

Ripple price technical picture

After breaking out of the contracting triangle show on the hour chart, Ripple is on a roll hammering on the immediate resistance hurdle at $0.53. Likewise, the bulls have their eyes glued on $0.55 in preparation for further upside movement past $0.6. Ripple is expected to trade in the range between $0.80 and $1.00 by the end of this year. Meanwhile, Ripple value is at $0.523 at the time of press. The signals are positive at the moment, where the RSI is pointing north and the MACD on the same chart ranging above the mean line. A look at the chart shows that the crypto is poised for an upwards swing in the near-term as the buyers take their positions.

XRP/USD 60’ chart