The prophecy of Revelation 17 details a great city, metaphorically depicted as a woman, who sits in the wilderness with her companion; a beast with seven heads and ten horns. The woman, dressed in scarlet and purple is a bastion of spiritual depravity, who has kingship over the kings of the earth in the last days. She is economically corrupt, a habitation of foul spirits, regulating a religious merchant system of buying and selling.
Her name is Babylon the Great, indicating a great city located in the heart of the ancient Babylon kingdom. But, Babylon's end time role has been relocated to Europe over a time period of several centuries, even though there is nothing in scripture to verify this relocation. Generally, Babylon is interpreted as any where else other than Babylon, which conflicts with scripture. This can be viewed as a misinterpretation of scripture, an eisegesis, prioritizing generalized ideas, perceptions or assumptions, other than what is stated - which leads to scriptural friction.
During the time period of great tribulation, those who wonder after the beast: R 13:3b; 17:8b, will bow in submission before its image, its name, or the number of the name of it, and receive a mark. The mark is worn on the right hand or the forehead, granting special privileges to buy and sell: 13:15-17. Those who refuse this global ordinance will be killed.
The woman, that great city who rules over the kings of the earth, will be a global economic powerhouse, regulating the flow of merchandise tied to the global spiritual harlotry of buying and selling: 17:1; 18:3,11-19. And, for this harlotry, she faces judgement.
... Babylon the great was remembered before God, to give her the cup of the wine of His fierce wrath: Revelation 16:19b
John is literally in the midst of great tribulation, serving as a witness, watching it unfold, when an Angel appears. The Angel arrives to explain why Babylon has been singled out by God for judgement. The Angel will show John the judgement of the woman arrayed in scarlet and purple, adorned with the riches of the world. In order for a judgement to occur, there needs to be a city in the land of Shinar, the land between the rivers, the ancient Babylonian kingdom.
The Bible details a great city which will exist in the future, but over the course of history, Babylon has been removed from prophecy, and replaced with Rome. Not only has Babylon been replaced with Rome, but, the entire middle east has been replaced by Europe.
Somewhere down the line, Babylon was replaced by Rome; removing the prophetic significance of Babylon in the last days.