XRP has been gaining attention as speculation mounts about a potential integration with SWIFT, the global payment system used by banks worldwide. The price of XRP recently moved up after finding support below the $2 level, with some analysts linking the increase to renewed rumors about a possible partnership between Ripple and SWIFT. Market analyst John Squire claimed that a deal between the two companies will be announced within the next seven days. However, neither party has provided official confirmation so far.
“If such a deal is announced, leading global banks may use XRP’s blockchain technology. This could lead to wider adoption of Ripple’s payment system,” Squire said. The rumors have been fueled by past comments from Ripple’s CEO, who has suggested the possibility of either integration or replacement of SWIFT.
A former SWIFT employee also claimed that banks have tested XRP’s compatibility with the SWIFT network. The XRPUSD H1 chart shows an uptrend, following a clear trendline.
XRP sees interest amid SWIFT rumors
After encountering resistance at 2.24500, the price underwent a bearish correction and is currently hovering near the trendline’s support. If a bullish reversal pattern forms, it could encourage buyers to go long, potentially increasing prices. However, a bearish breakout at the trendline could lead to choppy price action and a slow downward movement.
Ripple has been expanding its partnerships recently, enhancing its presence in the digital asset sector. The company is working with Unicâmbio in Portugal to enable instant payments between Portugal and Brazil using digital assets. Ripple also expects Japanese banks to adopt the XRP Ledger for cross-border payments by 2025 and is collaborating within the DeFi space.
Some observers believe that XRP’s price could reach $3 if a Ripple-SWIFT partnership is announced. However, the speculation remains unconfirmed, and the market’s reaction to any potential announcement is uncertain.
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