A recent BRICS report highlights the potential use of XRP Ledger to build a shared digital payment network, which may significantly impact XRP demand.
Role of XRP Ledger in BRICS
The new BRICS report features the consideration of XRP Ledger (XRPL) as a potential system for creating a shared digital payment network. XRPL is noted for its speed, low cost, and ability to connect various currencies. Reports indicate that BRICS nations require a fast and neutral infrastructure for conducting cross-border transactions.
Market Potential for XRP
If BRICS indeed adopts XRPL, it may lead to a substantial increase in demand for XRP. Utilizing XRP as a bridge for quick and secure transactions could be a key factor in developing a new financial mechanism. Additionally, there are reports of increasing XRP accumulations among major investors in the market.
Current Prices of XRP and BRIC Chain
Currently, BRIC Chain is trading at $17.10, reflecting a 0.3% increase over the past day, while Ripple (XRP) is priced at $2.80, having risen by 1.95% in the last 24 hours. The support for XRP at $2.70 remains intact, indicating stable interest in the asset.
Current insights from the BRICS report emphasize the significance of XRP Ledger for digital payment technologies, which could influence XRP demand and the market overall.
