XRP Price Rises as SWIFT Partners with Ripple-Affiliated Banks for Tokenized Cross-Border Payments
XRP price rose 1.6% to $1.09 on July 9 after SWIFT announced a partnership with 17 banks, including Ripple-affiliated institutions, to pilot blockchain-based cross-border payments. Banks such as Standard Chartered and UBS, which use Ripple for crypto custody or cross-border payments on the XRP Ledger, are part of the initiative. This follows Ripple Treasury joining the SWIFT Certified Partner Program in April 2026.
However, an analyst noted that the partnership may not benefit XRP price directly, as SWIFT’s blockchain ledger will use tokenized deposits rather than a Layer 1 gas token like XRP. Despite this, XRP saw a modest gain on the news.
From a technical perspective, XRP has closed below the 20-day EMA of $1.11 for three consecutive days, indicating short-term bearish momentum. If XRP fails to recover above this level, it could drop to the $1 psychological support. A further decline could push the price to the November 2024 low of $0.87. However, easing geopolitical tensions after reports that Iran seeks peace could improve sentiment, potentially driving XRP to the 50-day EMA of $1.17. The RSI reading of 43 suggests bears retain control.
Spot XRP ETFs recorded $7.29 million in outflows on July 8, the highest in three months, signaling weak institutional demand and potential further downside to $1. Coinglass data shows the long/short ratio has fallen to 0.96, with more short positions than long positions, and open interest dropped from $2.58 billion to $2.33 billion, indicating reduced speculative activity.