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Dan Morehead, the founder of Pantera Capital, recently appeared on CNBC’s Squawk Box to discuss Ripple’s role in global finance.

 

Morehead pointed out the longstanding belief that Ripple is both challenging and potentially replacing SWIFT when he stated, “Ripple’s going after SWIFT.” He suggested that XRP is comparable to other major assets with specific use cases, much like Bitcoin is considered digital gold and Solana is recognized for its performance.

Ripple’s technology offers cross-border payment settlement almost instantly and at a lower cost than SWIFT’s conventional model. Ripple’s solutions have already been investigated or incorporated by financial institutions worldwide to lessen inefficiencies in cross-border transfers.

SWIFT—the Society for Worldwide Interbank Financial Telecommunication—has served as the backbone for international payments. It relies on outdated infrastructure and transaction processing times that can take days to complete despite its broad reach. Brad Garlinghouse, CEO of Ripple, believes that this system is outdated.

BlackRock’s head of digital assets, Robert Mitchnick, a former Ripple executive, previously released research projecting a double-digit target for XRP. Mitchnick joined BlackRock after working at Ripple.

He was a co-author of a research report at the time of his move that examined digital assets and their potential values. Mitchnick’s report modeled both possible success and failure scenarios for XRP, estimating the asset’s future price in double digits.

The report’s low estimate of $6.37, although significantly higher than XRP’s current trading level, was explained by him. The forecast was then summarized into a range of fundamental values..

“The resulting fundamental value range of between $1.59 and $8.23” was reached after giving the success case a 25 percent chance, while the failure case assumed that XRP would have no value.

Although BlackRock has not yet applied for an XRP exchange-traded fund (ETF), the company has significantly expanded its presence in the cryptocurrency market.