Ripple Aims for 14% of SWIFT Volume as USDC Launches on XRPL
Ripple CEO Brad Garlinghouse forecasts that XRP could capture 14% of SWIFT’s trading volume by 2030, potentially enhancing its price. Concurrently, Circle’s USDC has launched on the XRPL, further benefiting XRP's value.
XRP Price Outlook
- Garlinghouse stated that SWIFT processes about $5 trillion daily.
- 14% of this equates to $700 billion daily or $175 trillion annually.
- Community member Fruition estimated that 14% of SWIFT's $150 trillion yearly transactions leads to a potential XRP price of $357.
- XRP is integral to Ripple's payment services on the XRPL, offering faster cross-border transaction capabilities compared to SWIFT.
USDC Launch on XRPL
- Circle announced that USDC stablecoin is now available on the XRPL.
- USDC can be used for DeFi liquidity provisioning and payments on the network.
- This development is expected to increase the total value locked on XRPL, signaling positive price movement for XRP.
- XRP will be required for gas fees on all USDC transactions.
The current XRP price is approximately $2.15, reflecting a nearly 2% increase in the last 24 hours according to CoinMarketCap.
