Ripple to replace SWIFT - Newest GPI direct response to ODL's expansion to more than 40 countries (2024)

• Ripple noted that fiat-based RippleNet customers are upgrading to ODL in Australia, Brazil, Singapore, the UAE, the UK, and the US.
• XRP price has dropped approximately 61 percent in the past year and remains 89 percent down from ATH, $3.4.

Ripple Inc., a leading American blockchain infrastructure provider fighting the SEC in a lawsuit, is working to help reduce cross-border friction through the real-time global settlement platform, On-Demand Liquidity (ODL). The ODL has significantly been adopted worldwide with Ripple noting that over 40 new markets have been onboarded. As such, market strategists unanimously agree XRP is significantly undervalued and perhaps suppressed by the Ripple vs SEC lawsuit.

Ripple is concurrently fighting with SEC in the United States court and building its overseas connection. For instance, the blockchain company recently noted that its ODL has been adopted by key financial players in Africa, Argentina, Belgium, and Israel. Moreover, most of these new markets are heavily dominated by SWIFT messaging platforms.

Brooks Entwistle, SVP of Global Customer Success at Ripple, recently noted.

“…With ODL’s expansion into nearly 40 payout markets around the world, representing ~90% of the FX market, the proof is in the pudding – business can rely on crypto to deliver the speed, efficiency, security, and scalability required to complement our formerly purely fiat financial infrastructure at low cost,”

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Additionally, Ripple noted that fiat-based RippleNet customers are upgrading to ODL in Australia, Brazil, Singapore, the UAE, the UK, and the US. Some of the new and upgraded customers that have adopted Ripple’s ODL include Andean Wide, BC Remit, Cascade, Choice International, CrossPay, GCC Remit, GMT, Hai Ha, iSend, Lulumoney by Lulu Financial Holdings, Lyons Express, MoneyTrans, PMI Americas, Remitee, Right Choice Payments, Sir Money Changer, Tier Money, and WTM International, among others.

Consequences of Ripple vs SEC Lawsuit on ODL and XRP Market

The ongoing Ripple vs SEC lawsuit has significantly hampered XRP growth both in the United States and overseas. For instance, XRP’s price did not surpass its ATH during the 2021 crypto bull market. Nonetheless, the XRP market has managed to remain in the top ten crypto projects by valuation.

According to our latest crypto price oracles, XRP price is exchanging at about $0.343135 on Wednesday. The crypto asset has a fully diluted market capitalization of approximately $34,311,124,640. Worth noting, that XRP price has dropped approximately 61 percent in the past year and remains 89 percent down from ATH, $3.4.

Nonetheless, the XRP market has gained approximately 12673.1 percent in the past eight years. Thus showcasing its strength during the early stages of crypto development. Moreover, many crypto companies have gone bankrupt – including mining companies, Terra Luna, and FTX – in the past few years.

Market strategists have argued that the ongoing lawsuit between Ripple and the SEC will be a huge determinant of ODL and XRP’s future growth prospects. Moreover, mainstream adoption of blockchain technology is heavily reliant on regulations set in respective jurisdictions.

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