For decades, major banks have resisted the rise of digital assets that compete directly with their services. XRP, developed by Ripple, has been one of the most prominent examples, designed to streamline international payments at lower cost and with faster settlement than traditional channels. Today, analysts argue that this resistance is losing ground, as calls for an updated financial infrastructure are becoming mainstream, even from political leaders. Growing Tensions Between Banks and Digital Assets Traditional banking institutions have long opposed innovations that challenge their dominance, particularly products that could replace or undermine savings accounts and cross-border transfers. Rupert, an analyst from All In Crypto, explained on the Paul Barron Podcast that banking associations fought extensively against proposals such as paying yield on stablecoins. The reason is straightforward: if consumers can earn interest directly on digital assets, banks risk losing one of their primary advantages. This pushback reflects how threatened the financial sector feels by blockchain-based solutions that give customers cheaper and more efficient alternatives. However, recent political commentary suggests that momentum is shifting in favor of modernizing financial rails. President Donald Trump recently criticized the outdated infrastructure underpinning the U.S. financial system, describing it as several decades behind current technology. He advocated for an upgrade built on “crypto technology” to prepare the United States for a 21st-century economy. Although he did not reference Ripple by name, his remarks align closely with what Ripple has developed. The XRP Ledger is specifically designed to enable fast, inexpensive international transfers, addressing exactly the shortcomings that Trump highlighted. Analysts note that Trump’s comments underscore a broader recognition among policymakers that legacy systems no longer meet modern demands. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 SWIFT Faces Mounting Pressure At the center of this discussion is SWIFT , the dominant international payments messaging system. Despite its long-standing role, critics argue that it is slow, expensive, and unsuitable for the digital era. BlackRock CEO Larry Fink even likened reliance on SWIFT to relying on outdated communications methods, emphasizing the need for alternatives. Ripple’s system provides a clear contrast. By using the XRP Ledger, institutions can complete cross-border settlements within seconds, eliminating the reliance on intermediary banks. If widely adopted, this model could offer the liquidity and scalability necessary to challenge SWIFT’s dominance and transform global finance. Ripple’s Broader Significance While Bitcoin was created as a decentralized form of money, Ripple’s purpose has always been narrowly defined: to improve the efficiency of cross-border payments. This mission places it in direct competition with banks, which profit from the fees and delays inherent in the existing system. Rupert cautioned that while price predictions for XRP often generate skepticism , the true impact of Ripple’s network is still unknown. The scale of adoption will ultimately determine how disruptive the technology becomes. What is clear, however, is that Ripple represents one of the most credible challenges yet to traditional banking infrastructure. The global financial system is under increasing pressure to modernize. While banks have resisted blockchain technology for years, recent political support for crypto-based solutions highlights a shift in direction. Ripple’s technology fits squarely into this conversation, offering the speed, efficiency, and scalability that leaders like Trump are now demanding. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Ripple (XRP) Set To Benefit from Trump’s Crypto Initiative appeared first on Times Tabloid .
