The Ripple community is taken by storm with a claim that the U.S. Congress is purchasing XRP at $10,000 and officially adopting XRP in place of the U.S. dollar. It sounds sensationalized, but let’s separate what’s really going on.
Over the past few years, several of the world’s largest nations, particularly those within the BRICS collective (Brazil, Russia, India, China, and South Africa), have begun to break away from using the U.S. dollar for international commerce. This is called “dedollarization.” As part of this process, they’re looking at alternative assets, including cryptocurrencies. And recently, XRP has come into that conversation quite prominently.
In 2024, a user by the name CryptoGeek posted a statement that BRICS could possibly utilize the XRP Ledger to develop a common global digital currency (CBDC). Why XRP, though? It’s fast, affordable, and scalable.
Ripple, the firm driving XRP, has entered partnerships and relationships with various BRICS members through many finance initiatives. Fast forward to today, the same user has posted again, claiming that Congress is buying XRP at $10,000 and declaring it “XRP as the new U.S. Dollar!!”
If BRICS or any major institution were to adopt XRP, it would potentially drive demand and adoption manyfold—usually a driver of price higher. Yet, no such public announcement is made by the U.S. government or Congress stating that XRP is now the new dollar of the U.S. There’s also no news that Congress is purchasing XRP at $10,000.
