XRP and SWIFT Partnership: A Potential Game-Changer for Blockchain and TradFi

Recent rumors about a potential partnership between Ripple’s XRP and SWIFT have sparked significant interest in the cryptocurrency and traditional finance (TradFi) sectors. While these rumors remain speculative, such a collaboration could mark a pivotal moment in the integration of blockchain technology with global financial systems. Ripple’s recent acquisition of Hidden Road for $1.25 billion and the launch of its own stablecoin further underscore its ambitions to bridge the gap between crypto and traditional finance. This article delves into the facts behind these rumors and explores what a SWIFT partnership could mean for XRP and the broader financial landscape.

XRP and SWIFT Partnership Rumors: Analyzing the Facts

Although Ripple has successfully integrated its network with several major banking partners for cross-border payments, rumors of a SWIFT partnership are currently based on speculation. However, if it materializes, the collaboration would be a significant milestone for blockchain and traditional finance (TradFi) integration. Recently, Ripple acquired the global prime brokerage platform Hidden Road for $1.25 billion and launched its own stablecoin, RLUSD. These expansions into TradFi have fueled rumors of a SWIFT partnership again.

XRP Surges 10% in a Week, RSI Cools After Near-Overbought Levels

XRP has seen a significant 10% surge in a week, with indicators pointing to sustainable momentum. However, the Relative Strength Index (RSI) has cooled from near-overbought levels, currently standing at 60.5. This follows a sharp rise from 34.7 six days ago, suggesting a rapid shift in momentum that may now be stabilizing, potentially reflecting short-term profit-taking after a strong rally.

XRP Reaches ABC Pattern Top, Analyst Projects Potential Correction

XRP has reached a pivotal point after touching the 0.382 Fibonacci retracement NEAR $2.24. Crypto analyst Casie (@CasiTrades) highlighted this as the ’XRP Reaching C Top’ and noted that this level aligns with the upper boundary of the latest three-wave ABC pattern. The tap near $2.24 has triggered bearish signals on the RSI, suggesting a potential short-term reversal. Casie identified two possible retracement zones at $1.90 and $1.55, labeling $1.90 as the 0.5 Fibonacci retracement and a critical backtest area.

XRP Price Could Mirror Bitcoin’s Macro Action to Reach $71

A crypto analyst has presented a compelling case suggesting that the XRP price may closely mirror Bitcoin’s historical macro action. By comparing multi-year chart patterns and market behavior, the analyst argues that XRP could surge to $71, representing a 3,281% increase from its current market price. TradingView expert RizeSenpai conducted a detailed comparative analysis, drawing similarities between Bitcoin’s breakout from its 2015-2017 multi-year accumulation range and XRP’s current price structure.

XRP Supporter Kitao Tapped For Fuji Holdings Board

Yoshitaka Kitao, well known for his enduring support of Ripple and its digital asset XRP, has been named by Dalton Investments as a candidate for the board of directors at Fuji Media Holdings, Japan’s largest media conglomerate. The proposal, first reported by Nikkei, surfaced amid ongoing efforts by the US-based activist investor to address what it deems as governance shortcomings at Fuji Media. The activist investor, which holds a significant stake in the media giant, has previously voiced dissatisfaction with the company’s governance. Kitao’s deep-rooted connections to Ripple can be traced back several years through SBI Holdings, the financial services powerhouse he helms as Chairman & President.

Will Ripple’s rally continue? – XRP eyes $2.4 after 20% weekly gain

An analyst predicts a move to $2.4 for XRP, citing an ascending triangle. Over the past week, Ripple (XRP) has surged by 20.7% from a local low of $1.6 to a high of $2.2. At the time of writing, XRP was trading at $2.13, marking a 20.73% gain over the past 7 days. The volume has spiked by 42.18% to $10.12 billion, while options volume surged by 204% to $3.49k. The altcoins’ Options Open Interest was up by 87.5% to $486.6k. The recent price pump has left analysts eyeing a strong upward movement.