XRP's Popularity Set to Surge Amidst BRICS Countries' Shift Away from the Dollar

Crypto Analyst from “A Chain of Blocks” Envisions XRP’s Surge in Popularity as BRICS Nations Shift Away from Dollar Dependency

As BRICS nations make strides to distance themselves from reliance on the US dollar, a crypto analyst affiliated with “A Chain of Blocks” foresees a potential spotlight on XRP, the cryptocurrency ranked fifth by market capitalization.

The analyst’s insights, shared through a video presentation, suggest that many member countries within BRICS view XRP as a feasible global payment solution capable of facilitating transactions among fellow member states.

Graham Bright, who serves as the Head of Compliance and Operations at Euro Exim Bank, also underscores the growing significance of XRP. However, he emphasizes that Ripple represents an supplementary solution rather than a technology poised to dismantle the existing global payment network, SWIFT.

In a parallel development, eight nations have embarked on leveraging the capabilities of the XRP ledger for their digital currency endeavors. Ripple’s CEO, Brad Garlinghouse, recently disclosed discussions with around 30 additional countries expressing interest in utilizing Ripple’s CBDC platform built upon XRP.

Furthermore, the analyst highlights BRICS countries’ ambitions to establish a collective bank aimed at reforming global currency and financial systems.

This vision aligns with a recent declaration by Russian President Vladimir Putin, affirming that BRICS nations have resolved to exclude the US dollar from transactions conducted among themselves in the context of the latest BRICS summit.