- WatcherGuru’s initial report of a SWIFT-Ripple partnership was quickly deleted, with the platform citing a hack, leading to speculation of a premature leak
- Following its win against the SEC, Ripple is anticipated to experience accelerated growth in partnerships with financial institutions
- Despite the uncertainty surrounding the SWIFT rumor, XRP has demonstrated market strength with a 6.21% price increase over the week
News of a collaboration between SWIFT and Ripple for international payments, with talk of billions in escrow, started doing rounds that caught investors and traders attention checking for the source; the news first appeared on WatcherGuru.
But soon, WatcherGuru quickly deleted those posts, saying they were hacked, which made some people wonder.
An X user summed it up rather nicely: “I think they got their hand slapped for posting it prematurely, and claimed they were ‘hacked.’
Ripple’s Legal Victory and Its Implications for Growth
To add context to this development is Ripple’s positive momentum built upon its legal victory against the SEC who now decided to drop their appeal, is the reason for potential new partnership news for Ripple.
The SEC’s decision not to appeal the ruling that XRP was not an unregistered security now gives Ripple crucial clarity, potentially accelerating its network expansion beyond its current 300+ partners and attracting major players like Bank of America.
Related: Ripple Wins Big (Again): SEC Drops Appeal in XRP Lawsuit – What’s Next for the Company and XRP?
Garlinghouse has also indicated that Ripple now has greater control over its legal strategies, allowing for a more focused approach to market growth.
The company is also in discussions to recover $125 million in escrow, previously set aside for a penalty related to XRP sales to institutional investors, with Garlinghouse asserting that no investors incurred losses.
Related: Ripple CEO: XRP ETF and Strategic Reserve Listing “Closer Than Ever”
XRP Market Performance and Trading Trends
Against this backdrop of rumor and official news, XRP is currently trading at $2.43, reflecting a 6.21% increase over the past week. The cryptocurrency’s market capitalization stands at $141.5 billion, with a trading volume of $4.59 billion.
Between March 15th and March 20th, XRP’s price saw a notable rise, reaching above $2.50 before settling at its current level, demonstrating resilience in the market.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
