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- BRICS adoption of XRP could drive its price to $10,000.
- Ripple’s partnerships and tokenization boost XRP’s value potential.
One major challenge to international finance is the inefficiency of cross-border transactions as they are now. Many times, middlemen clog these conventional procedures, leading to delays and high costs.
The main XRP distributor, Ripple, has created the XRP Ledger to overcome this obstacle, though. Thanks to its quick transaction speeds and low costs, this ledger may revolutionize international payments.
As of right now, CoinMarketCap data show that XRP is trading at roughly $0.5241, slightly up 0.04% over the last 24 hours and 1.46% over the previous week.
Market analysts and cryptocurrency enthusiasts are speculating on the possible effects of BRICS countries (Brazil, Russia, India, China, and South Africa) adopting XRP, which makes this positive momentum noteworthy.
BRICS and Ripple: A Potential Game Changer
XRP’s price may reach $10,000 if BRICS countries adopt it widely, according to CEO & Founder of Cryptonairz, Robert Doyle (Crypto Sensei). These nations stand to gain much from the benefits of XRP because of their developing economies and volatile currencies.
XRP Is the Future, Here is how it will reach $10,000 (BRICS ADOPTING XRP)
XRP and Ripple's technology offer solutions for the banking industry's payment infrastructure, including faster, cost-effective international payments and potential partnerships with central banks.#XRP… pic.twitter.com/zyKjvdXVAS
— CryptoSensei (@Crypt0Senseii) June 2, 2024
For many countries, the capacity of digital assets to speed up and lower the cost of cross-border transactions has the potential to greatly simplify financial operations. Another important aspect is Ripple’s growing network of alliances with well-known financial institutions.
These partnerships show that institutional interest in XRP is increasing, as is its ability to upend the multi-trillion-dollar traditional settlement market. Moreover, the value of XRP is expected to increase thanks to the developing tokenization industry, which converts tangible assets into digital tokens.
Expert Opinions and Future Prospects
Experts project that the tokenization market will grow significantly in the future, and XRP, with its quick and safe transaction capabilities, may be in a good position to contribute.
Further supporting this possible tokenization role is David Schwartz, Chief Technology Officer of Ripple, who in an interview expressed his positive opinion on the XRP Ledger’s suitability for tokenization because of its low fees and connection with Decentralized Exchanges (DEXs).
There was conjecture that the alliance would take up Ripple’s XRP when CNF reported a month ago that the BRICS countries were developing a stablecoin.
