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


  • Ripple’s CEO Garlinghouse says there were opportunities for SWIFT partnership, but now is time to take over.
  • “Some of the largest Swift-enabled banks in the world are now using Ripple’s technology,” Brad Garlinghouse.
  • XRP/USD poised for an upswing towards $0.55 in the near-term.

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

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Sellers come in ahead of 10,500

BTC/USD sells of late in the session as we draw to a close on an eventful day in the financial markets. We were expecting Fed Chair Jerome Powell to be the main event of the session but China announced plans to add tariffs to US imports. Then Powell once again stood firm against Trumps pressure to loosen monetary policy and the US President lost it on twitter. 

More Bitcoin News

XRP pushes to session highs but a key level is in sight

XRP/USD pushes to session highs. Key resistance level is in sight. 0.300 still seems the like the long term target for bulls.

More Ripple News

BCH/USD: 300 is well supported once again

Bitcoin Cash has rejected downside moves yet again. Key trendline apex needs testing soon. 360 is still the level to breach for upside momentum.

More Bitcoin Cash News

NEO announces new partnership with gumi Cryptos bringing blockchain to Japan

NEO Foundation has announced a new partnership with gum Cryptos. The two organisations will be working on bringing blockchain technology to Japan. 

More Neo News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP