In an effort to de-dollarize, BRICS countries are promoting plans to introduce a common currency to develop an independent payment system.
According to cryptocurrency site Coingape, Ripple is considered a bright candidate
According to its supporters, XRP is famous for its fast transaction speeds and low costs. Therefore, this seems to be a viable system in case BRICS is considering to "revolutionize" international payment goals.
If this becomes a reality, the price of XRP will skyrocket. Cryptonairz founder and CEO Robert Doyle said XRP could reach the $10,000 mark if widely used by BRICS countries. In addition, many opinions believe that member countries of the bloc will receive many benefits from choosing XRP as an alternative currency to USD.
However, no BRICS member has officially confirmed that they will use digital currency to support cross-border payments. This information is still only shared in cryptocurrency fan forums.
At the present time, XRP coin is increasingly receiving trust in a number of countries. With the increased level of confidence, especially after Judge Analisa Torres in the state of New York (USA) last year ruled that cryptocurrencies are not securities, many discussions about the possibility of launching an XRP ETF broke out.
Since the US Securities and Exchange Commission (SEC) approved Bitcoin ETFs and recently turned its attention to Ethereum ETFs, experts have begun to consider implementing other cryptocurrency ETFs.
Refer to Coingape
