The Central Bank of Russia has highlighted the importance of Ripple in cross-border payments, despite the uncertainty surrounding the SEC’s appeal against Ripple. In a report titled “Digitization of Payments and Implementation of Innovations in the Payments Market (2024),” the Central Bank of Russia recognizes Ripple as an emerging player in global finance.

Alpha Lions Academy CEO Edo Farina took note of this update from the Central Bank and emphasized the role of XRP in Ripple’s operations. According to Farina, the report puts XRP at the center of Ripple’s operations. Farina also provided a diagram explaining how Ripple handles cross-border transactions. However, it should be noted that the Central Bank of Russia only emphasized Ripple’s potential in cross-border payments and there is no indication that Russia or any of the BRICS countries have any plans to use Ripple’s technology or XRP.

Ripple vs. SEC Update: Appeals Could Last Until 2026

Meanwhile, there is still a lot of confusion about the SEC’s deadline for filing Form C for its appeal. The main questions now are when the 14-day window begins and whether the court will recognize Columbus Day as a holiday.

As of this writing, some members of the crypto community believe the SEC has missed the deadline, which they believe ended on October 16. Meanwhile, others believe the commission still has 24 to 48 hours to file Form C and continue with the appeals process.

XRP’s price has seen significant volatility following recent events. Data from CoinmarketCap shows the digital asset is trading at $0.5565 at the time of writing, up 2.65% over the past 24 hours and up 6.18% over the past week. The SEC’s decision to not appeal the case could have a positive impact on XRP’s price and attract more bullish sentiment from altcoin investors.

With these new developments, the crypto community continues to closely monitor the next moves of the SEC and Ripple, as well as their effects on the market.