XRP maintained its upward momentum this week as the broader crypto market rebounded, with Ripple’s CEO, Brad Garlinghouse, outlining an ambitious plan to challenge SWIFT and dominate the cross-border payments industry. On Tuesday morning, XRP edged up to $2.45, marking a 30% increase from its monthly low.
Ripple’s Battle with the SEC and a Shift in Strategy
Ripple’s legal struggles have been a major roadblock. Garlinghouse revealed that the company has poured over $150 million into legal fees while fighting the Securities and Exchange Commission (SEC). This prolonged litigation stifled Ripple’s ability to secure partnerships with American financial institutions.
Most of Ripple’s traction has come from overseas, where financial firms embraced its blockchain-powered solutions. But with the legal cloud lifting, the company is now looking to aggressively expand in the U.S. market.
Garlinghouse emphasized that Ripple’s technology is positioned as a direct competitor to SWIFT, the global banking network that facilitates international transactions. He criticized SWIFT’s outdated infrastructure, calling it slow and expensive compared to Ripple’s on-demand liquidity (ODL) technology.
Trump’s Influence and Ripple’s Growing U.S. Demand
There’s been a noticeable shift in momentum. Garlinghouse highlighted what he called “The Trump Effect,” suggesting that Ripple has seen a significant uptick in deals following Donald Trump’s election. In the six weeks since his victory, the company has signed more U.S.-based agreements than in the prior six months.
Still, Ripple has a long way to go before it can truly challenge SWIFT’s dominance.
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SWIFT boasts a network of over 11,000 financial institutions globally.
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Ripple, in contrast, has fewer than 500 banks in its ecosystem.
Despite the disparity, Ripple sees an enormous opportunity in the multi-trillion-dollar cross-border payments market.
XRP Price Analysis: Bulls Eye Key Resistance Levels
The technical picture for XRP suggests a potential breakout. The token has been steadily moving higher, distancing itself from its critical support level at $1.9635.
Several indicators are flashing bullish signals:
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Bollinger Bands: XRP has climbed above the middle line, indicating upward momentum.
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Ichimoku Cloud: The price is now within the cloud—if it clears the upper boundary, a stronger bullish confirmation will emerge.
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Murrey Math Lines: XRP has surpassed a key pivot point, hinting at further gains.
For XRP to push higher, it must break through resistance at $3. That move would invalidate the head-and-shoulders pattern, which has been a looming bearish setup.
However, if sellers regain control and push the price below $1.9635, XRP could slide further, potentially testing the $1 mark.
