The XRP token currently trades at $1.40, significantly below its all-time high of $3.00. Despite slow price momentum, its parent company Ripple is advancing its ecosystem and challenging the established SWIFT payment network. Ripple’s CEO has detailed this competition, and on-chain data shows rising adoption with XRP wallets surpassing 8.1 million.
The XRP price has long been a subject of speculation, now trading at $1.40 at press time, down from its earlier high of $3.00. Despite this, Ripple continues to build its ecosystem, with its technology now challenging the seasoned SWIFT network.
Ripple’s CEO Brad Garlinghouse recently commented on this competition in the cross-border payments arena. “Well, I think what we’re doing and executing on a day-by-day basis is in fact taking over SWIFT, in that we’ve now signed up well over 100 banks,” he stated.
Garlinghouse highlighted a remittance company that reportedly reduced its price per transaction from $20 to $2 using Ripple’s technology. He noted this change led to an 800% increase in usage overnight, a dynamic he said SWIFT cannot support.
Concurrently, XRP wallet adoption is increasing, indicative of heightened user interest. The total XRP wallet count has risen to 8.1 million, with on-chain data showing steady XRPL activity even as price momentum remains weak. This growth signals ongoing user onboarding for the network.
