Prominent XRP critic Dan The Man says Chainlink is now XRP’s topmost rival after Swift partnership.
In a recent tweet, a prominent XRP and Ripple critic argued that Chainlink (LINK) had become XRP’s topmost rival. The critic was X user ‘Dan The Man.’
Dan expressed this sentiment amid Chainlink’s recent partnership with Swift. The critic argued the Swift-Chainlink collaboration was one Ripple failed to attain. In his words:
“Chainlink is now the one competitor to XRP as it forged partnerships with SWIFT that Ripple failed to establish.”
Chainlink is now the #1 competitor to #XRP as it forged partnerships with SWIFT that @ripple failed to establish.
Meanwhile, Ripple has dropped from its markets report the ODL volume.
It has lost MoneyGram. SWIFT. Etc.
While popular amongst retail traders, does #XRP have a… https://t.co/1SK6K1EJNT
— Dan The Man (@XCorrespondant) August 31, 2023
Link Taking XRP’s Place?
Moreover, Dan reasoned that Ripple was hostile to SWIFT. He said Ripple sought to replace SWIFT rather than work collaboratively to promote blockchain. Since Chainlink excelled in partnering with SWFT, Dan believes LINK now holds a better outlook than XRP.
Furthermore, Dan alleged that alongside losing partnerships with MoneyGram and SWIFT, Ripple dropped On-Demand Liquidity volume from its markets report. In his view, the failed partnerships, the protracted lawsuits, and rival performances diminish the bullish potential of XRP.
Additionally, he argued that XRP would become a less appealing solution for cross-border payments when SWIFT, the largest provider of cross-border payments, upgrades its technology with Chainlink.
Notably, in a recent statement, SWIFT noted that its system can enable seamless tokenized value transfer across private and public crypto networks. It confirmed working with Chainlink and other prominent financial institutions.
Ripple’s Part
It is worth mentioning that while Ripple may have failed in partnering with Money Gram and SWIFT, the firm holds other equally significant collaborations. For example, multiple central banks worldwide are seeking to build government-backed currencies using Ripple’s solution.
A Ripple executive recently revealed the payment firm is in active talks with 30 central banks worldwide to integrate Ripple’s crypto solution. Additionally, as The Crypto Basic reported, the government of Palau has entered a new stage in its collaboration with Ripple to launch the country’s stablecoin on XRP Ledger (XRPL).
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
