Rumours about Ripple teaming up with SWIFT surge 

Ripple’s legal counsel has denied growing speculation that the U.S. government is planning to seize XRP tokens currently held in escrow by the blockchain firm.

The denial comes amid a flurry of social media posts suggesting Ripple’s XRP holdings could be used to back a future government-backed digital reserve.

Bill Morgan, a prominent lawyer closely associated with the blockchain company, dismissed the claims outright in a post on X (formerly Twitter), stating simply, “No, it won’t,” in response to a widely circulated tweet alleging imminent U.S. government seizure of Ripple’s XRP escrow.

Morgan stopped the speculation that social media activist John Squire raised concerns about the U.S. government’s approach to crypto reserves.

High-profile X voices, like Pumpius, have also been linked to rumours and reports about the U.S. government’s move on XRP. He stated that while the rumors of XRP escrow were hard to believe, it could possibly be true.

Pumpius compared Bitcoin ETFs to the situation. According to him, BTC ETFs seemed impossible initially, but eventually came true, saying that crypto can pull off surprise feats.

According to credible sources, these rumors have been ignited by the announcement that the blockchain company has released 1 billion XRP from its escrow. The tokens were sent in three separate transactions: 500 million, 300 million, and 200 million XRP, worth over $2.2 billion.

Interestingly, this is not the first rumor concerning the company and the U.S. government. Following reports in March, there were rumors that Ripple was offering the U.S. government 45% of its XRP to get access. 

According to the speculations, Ripple was discussing a strategic settlement—potentially through an arrangement of the use of XRP, rather than a cash payment—to close out its legal dispute with the Securities and Exchange Commission (SEC).

Rumours about Ripple teaming up with SWIFT surge 

Another rumor was about Ripple’s XRP Ledger being integrated into the massive global interbank system SWIFT. However, many of the claims about SWIFT’s interest were grossly exaggerated.

Ripple had successfully teamed up with several big banks for cross-border payments, but the rumors about SWIFT were mostly just speculation and not based on real facts. Still, if it worked out, the partnership would be a significant achievement for blockchain and TradFi integration. 

Additionally, when the SEC indicated that it would dismiss its lengthy lawsuit against Ripple, the company pushed to incorporate its unique blockchain technology into traditional financial institutions. 

Most notably, Ripple bought global prime brokerage platform Hidden Road for $1.25 billion. It also released its own stablecoin, RLUSD. With this further foray into TradFi, the SWIFT partnership rumors surged once again.

These are among the rumours about XRP. As speculation concerning XRP grows, many of these claims have been met with skepticism from many in the crypto space. Therefore, analysts have called for proof to address these claims and prevent further rumors concerning XRP in the future.

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