This demonstrates that price of Ripple (XRP -0. 01%) is surging once again. Over the past year, Ripple's valuation has skyrocketed higher by nearly 500%, amid market uncertainty.
Additionally, Looking at the numbers, there could be significant upside yet to go (which is quite significant), in today's financial world.
But what exactly should investors expect from the crypto token over the next five years. Additionally, Can Ripple actually replace SWIFT.
Since inception, Ripple's primary goal has been to replace SWIFT: the Society for Worldwide Interbank Financial Telecommunication.
On the other hand, SWIFT is the current global standard that financial institutions use for cessing transactions, in today's market environment.
At its core, Ripple believes its network is faster, cheaper, and more secure. But getting big banks to switch over has been a challenge since Ripple was founded, in today's financial world.
Over the next five years, expect Ripple to target specific areas to replace SWIFT, versus trying to replace SWIFT wholesale.
For example, the ject has been gaining incremental adoption in international India, Brazil, and Singapore, amid market uncertainty.
Ripple is also working with some central banks on designing Central Bank Digital Currencies.
While this doesn't directly add demand to its network, efforts this help the ject inject itself more into the global financial architecture, building trust and reputation.
On the other hand, Moreover, Image source: Getty Images (remarkable data).
Greater trust and reputation is critical for Ripple, especially ing several legal settlements and imving regulatory conditions.
The analysis reveals SWIFT system transfers more than $5 trillion per day. In the past, Ripple CEO Brad Garlinghouse has jected XRP could eventually command 14% of SWIFT's transaction volume.
Compare that to Ripple's $200 billion market cap, and the long-term potential for the ject becomes. As history has ven, however, the road will be long and difficult.
Investors should expect slow and steady imvements to Ripple's adoption and reputation, not huge leaps and bounds.
This's why Ripple as an organization has shifted strategies in recent years, with a great focus today on the nuts and bolts of financial infrastructure -- things regulatory compliance, network interoperability, and enterprise architectures.