XRP Surges 11% on SWIFT Integration Rumors

Over the weekend, the price of XRP surged from around $2 to as high as $2.23. However, as of April 14, the price has decreased from its peak, currently trading around $2.15. Recent developments suggest that XRP could soon reach new highs due to rumors of an upcoming official integration with SWIFT, the dominant cross-border transaction system that processes trillions of dollars daily. Even a small share of this market could significantly benefit Ripple.

Speculation about the integration of the XRP payment system into the SWIFT network has been ongoing for some time. Ripple's CEO has previously hinted at a possible integration or replacement. Additionally, a former SWIFT employee confirmed that banks have tested the compatibility of the XRP payment system with SWIFT. The latest development came from John Squire, a market analyst, who stated that a deal between Ripple and SWIFT could be announced within the next seven days.

Squire noted that several influential voices have recently pointed to a possible announcement from SWIFT, which could confirm that XRP, through Ripple, will become part of SWIFT’s global payment infrastructure. This infrastructure is used by over 11,000 financial institutions worldwide. If this partnership materializes, the XRP blockchain will be adopted by top global financial institutions, making the Ripple payment system a globally adopted blockchain and the backbone of global finance. Given these facts, after the alleged announcement, XRP could reach $3.

According to Chart 1, XRP has used the $1.79 support to bounce back above the $2 point. Currently, bulls are attempting to create an XRP price surge to reach above the higher trendline of the descending channel. If it breaks out of the descending channel, it could reach a new, higher low and start a bullish price trend. The next strong resistance will be at the PoC line, a highly traded level. If this line is broken, it could boost the XRP price, sending it to $2.60.

However, the RSI does not signal bulls’ domination, which could mean investors are not ready to reach $3. Nevertheless, a SWIFT announcement might create a bullish opportunity for explosive growth. If this becomes a reality, we can expect the XRP price to surge to $3 by the end of April. According to the analyst's forecast, the long-term target is $45.

Squire’s statement highlights that Ripple and SWIFT have a history of partnerships. In 2023, SWIFT launched an interoperability pilot program testing the integration of blockchain in cross-border payments, with Ripple being one of the participants. This program could serve as the background for a possible partnership. While the prediction remains uncertain, investors should closely monitor XRP news to stay updated and be among the first participants in the next rally.