XRP Price as SWIFT Taps Ripple-Affiliated Banks For Tokenized Cross-Border Payments

XRP price is up by 1.6% today, July 9, to trade at $1.09 at the time of writing. These gains come as SWIFT announces that it will be working with 17 banks, some of which are affiliated with Ripple, for a pilot phase for its blockchain-based ledger.

SWIFT Partners With Banks For Tokenized Cross-Border Payments

SWIFT has announced that it will be working with 17 banks to check whether its blockchain can be used to facilitate payments made between countries.

Some of the banks named in this project, like Standard Chartered and UBS, use Ripple to custody crypto assets or to enable payments across countries using the XRP Ledger.

This initiative comes after Ripple Treasury joined the SWIFT Certified Partner Program in April 2026.

However, an analyst on X notes that Ripple’s partnership with SWIFT might not be bullish for the price of XRP because SWIFT will not use the XRP token on its blockchain-based ledger.

“Sorry $XRP holders, but the “bridge currency” and “liquidity” is tokenized deposits; not a L1 gas token,” the analyst said.

Still, XRP price made a slight gain of 1.5% on the news of SWIFT working with banks affiliated with Ripple.

XRP Technical Outlook as Price Remains Below Key EMA Levels

The price of XRP has closed below the 20-day EMA of $1.11 for three straight days. This move suggests that the short-term trend is favoring bears.

If XRP fails to recover above this 20-day EMA, the price could drop to the psychological support of $1.

A drop to $1 could increase selling pressure that could pull the price down to the November 2024 low of $0.87.

However, buyers might come back because geopolitical tensions are easing after Trump said that Iran wants to make a deal for peace to end the conflict that began in February 2026.

This buying pressure could push the XRP price to the 50-day EMA level of $1.17.

However, the RSI reading of 43 suggests that the momentum is favoring bears and XRP could drop tp $0.87.

XRP ETFs Record Highest Outflows in Three Months

Data from SoSoValue shows that spot XRP ETFs saw $7.29 million in outflows on July 8. This is the highest outflow that these ETFs have seen since March, 2026.

The outflows suggest that there is low demand for XRP by institutions, and this could make the price to drop to the psychological support of $1.

Data from Coinglass also suggests that the sentiment around XRP is bearish because of the declining long/short ratio. This ratio has dropped to 0.96, suggesting that there are more short positions than long positions.

XRP’s open interest has also dropped from $2.58 billion on July 5 to $2.33 billion today, July 9, suggesting that there is also weak demand coming from speculative traders, and the price could keep dropping.