XRP has been named a possible replacement for SWIFT in the global financial ecosystem.
The XRP community remains divided on whether XRP can hit $10,000 in the near future.
Recently, an interesting proposition came from Edward Farina, the Head of Social Adoption at XRP Healthcare, arguing that XRP has the potential to replace SWIFT for cross-border payments and surge to $10,000.
SWIFT’s Limitations and XRP’s Value Proposition
SWIFT, the global messaging system for financial institutions, has long been a staple for international money transfers. However, it is not without its flaws. High fees, extended settlement periods, and the requirement for pre-funded accounts in foreign currencies have made SWIFT less than ideal for many users.
On the other hand, XRP, the digital currency associated with Ripple Labs Inc., offers a compelling alternative. With transaction settlement times as fast as 3 seconds and an average fee of $0.0002, XRP boasts speed, cost-effectiveness, and reliability. F

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