#SECGuidance XRP has stalled this week even after Ripple CEO Brad Garlinghouse shared his views on how Ripple will compete with SWIFT.

In an interview with Fox Business host Maria Bartiromo, Garlinghouse said he was confident that Ripple would become a viable rival to SWIFT over time

He argued that SWIFT has been around for over 50 years and that its technology is due for disruption. SWIFT, which handles over $150 trillion annually, is often slow and time-consuming. While transaction speeds have improved, it is still common for SWIFT transfers to take days to complete.

According to Garlinghouse, the recent conclusion of the Ripple vs SEC case will help Ripple onboard more American banks that handle trillions in payments annually. He noted that Ripple signed up more U.S. banks and payment companies in the six weeks after Donald Trump’s election than in the previous six months combined.

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Ripple’s business in the U.S. largely stagnated after the SEC launched its lawsuit against the company in 2020. As a result, most of its partnering institutions were from abroad, especially in Japan.

Ripple’s technology is seen as a better alternative to SWIFT because of its superior speeds and low costs. A typical transaction takes less than five minutes to complete and costs just cents.

Ripple uses a technology known as on-demand liquidity, which involves converting a local currency to XRP, transferring it to another country, and converting it into the local currency. Transactions can also be made without using XRP, which is known for its volatility.