6 latest news about the competition between Ripple (XRP), Litecoin (LTC), and SWIFT in the crypto era

Jakarta, Pintu News – The competition between Ripple (XRP) and SWIFT in the cross-border payment system is heating up.

SWIFT recently strengthened its position by partnering with Chainlink (LINK) to integrate blockchain technology into its global network.

This move raises a big question: can XRP still be a leader in the cryptocurrency-based global payments market?

1. Ripple Targets 14% of Global Payment Market

Ripple has been positioning itself as SWIFT’s main competitor. Ripple’s CEO, Brad Garlinghouse, has stated an ambitious target of capturing a 14% share of the cross-border payments market in the next five years.

SWIFT alone processes around US$5 trillion or IDR81,235 trillion worth of transactions every day. Ripple’s target shows great ambition to control a significant part of the trillion rupiah industry.

2. Expert thinks XRP won’t replace SWIFT

According to Zach Rynes, community liaison at Chainlink, the scenario of XRP replacing SWIFT is completely unrealistic. SWIFT has adapted quickly through its strategic partnership with Chainlink.

With this move, SWIFT can enter the public and private blockchain space, without sacrificing the relationship with the global banking network that it has built over decades.

3. SWIFT-Chainlink: A Long-Term Partnership

SWIFT and Chainlink’s partnership dates back to 2016, when Chainlink (then called SmartContract.com) won SWIFT’s startup competition. The partnership strengthened in 2022 when the two introduced the Cross-Chain Interoperability Protocol (CCIP).

In 2023, the CCIP pilot successfully involved major banks such as ANZ, BNP Paribas, BNY Mellon and Citi. Today, the technology is used by thousands of SWIFT member banks around the world.

4. Ripple’s position amidst the onslaught of new technologies

Ripple continues to expand its partnerships, including with the European Central Bank and the Bank of Japan. Both institutions are testing Ripple’s infrastructure alongside SWIFT.

However, with SWIFT’s adoption of blockchain technology through Chainlink, Ripple’s competitive advantage could be further eroded. Both now have similar capabilities in facilitating crypto-based payments.

5. LINK Price Increases Significantly

Chainlink (LINK) price is currently at $21.40, the highest since February . This surge was triggered by heavy accumulation from institutional investors and crypto “whales”.

LINK’s position as the cryptocurrency of choice for institutions is strengthening, especially after being directly involved in major projects such as SWIFT integration.

6. Impact on Cryptocurrency Market

This competition is not just about technology, but also about strategic relationships with the global banking industry. SWIFT has an established network, while Ripple offers a fast and low-cost blockchain-based solution.

If SWIFT manages to optimize Chainlink’s technology, XRP’s dominance in the cross-border payments market could diminish. However, Ripple still has a chance if it is able to present innovations that its competitors do not have.

Also Read: Moo Deng Price Initial Release, Highest, Year to Date

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Reference:

• Bitcoinist. Ripple’s XRP Cannot Replace SWIFT? Expert Says This Crypto Is A Better Fit. Accessed August 13, 2025.