American entrepreneur Patrick Bet-David has recently sparked new interest in XRP’s potential to disrupt traditional financial systems, specifically through replacing or complementing the SWIFT network. Bet-David, a prominent businessman and financial commentator, shared his insights during an appearance on his popular TV program, Valuetainment, in March. Advantage over SWIFT Bet-David highlighted the advantages XRP holds over the SWIFT network, particularly in terms of speed and cost-effectiveness. While SWIFT processes an estimated $5 trillion in transactions daily, XRP’s native blockchain, the XRP Ledger, can settle transactions in just three to five seconds for a fraction of a cent. This efficiency, Bet-David suggested, positions XRP as a superior alternative to SWIFT, which currently handles a significant portion of global cross-border payments. Bet-David also emphasized the ongoing debate surrounding XRP’s potential to either complement or replace SWIFT altogether . Given XRP’s capabilities, he raised the possibility that the crypto asset could eventually handle a substantial share of the $1.25 quadrillion in annual transactions that SWIFT facilitates. Price Forecasts and Market Implications During his discussion, Bet-David also referenced an optimistic projection for XRP’s value, predicting that the token could reach $100 under certain market conditions. He based this on the scenario where XRP captures just 10% of SWIFT’s annual transaction volume, amounting to $125 trillion. Such a development, he speculated, could push XRP’s market capitalization toward $10 trillion. Bet-David also brought attention to even bolder predictions made by some analysts, suggesting that XRP could rise to as high as $1,000 per token if it were to fully displace SWIFT. While acknowledging that those making these predictions may hold significant amounts of XRP themselves, Bet-David remained confident that such outcomes were plausible if the token were to fulfill its full potential. Barriers to Mass Adoption Despite his optimism, Bet-David noted that XRP’s path to widespread institutional adoption has been hindered by the ongoing legal challenges involving the U.S. Securities and Exchange Commission (SEC). This regulatory uncertainty, he argued, has prevented XRP from achieving its full market potential. However, he remains hopeful that a favourable outcome for Ripple in the SEC lawsuit could lead to broader regulatory acceptance and boost investor confidence, particularly within the U.S. Ripple’s Executive Advocacy for XRP’s Role in Global Finance Bet-David’s remarks mirror the sentiments expressed by Ripple executives, who have long championed XRP’s ability to replace traditional financial infrastructure like SWIFT. Ripple CEO Brad Garlinghouse, in particular, has repeatedly stressed the inefficiencies of the SWIFT system, highlighting XRP’s superior transaction speed and reliability. He has also pointed out the high error rate of SWIFT transactions (6%) compared to XRP’s low error rate of just 0.1%. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Ripple’s executives have continued to push for XRP as a better solution for global financial transactions. At the World Economic Forum in Davos this year, Ripple’s Senior Vice President of Strategic Initiatives, Eric van Miltenburg, described Ripple as a modern alternative to SWIFT, citing its faster and more affordable nature. Ripple’s advocacy for XRP as a potential SWIFT replacement has been a key part of the company’s strategy for several years, with earlier statements from Garlinghouse and Ripple Chairman Chris Larsen suggesting that XRP could eventually dominate the global payments space. Patrick Bet-David’s comments have reignited the conversation about XRP’s potential to revolutionize the global financial system. While challenges remain, particularly with regulatory hurdles, the entrepreneur’s predictions about XRP’s price and its ability to rival SWIFT show the growing interest in the crypto asset’s long-term viability. If XRP can achieve the kind of market dominance that Bet-David envisions, the price of the token could see substantial growth, benefiting from the asset’s ability to handle high volumes of transactions faster and more cheaply than traditional systems. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Expert Predicts XRP Price If It Captures 10% of SWIFT’s Volume appeared first on Times Tabloid .
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