The Ripple community is being bombarded with claims that the US Congress is buying XRP at $10,000 and officially adopting XRP in place of the US dollar. It sounds sensational, but let's examine what is actually happening.
In recent years, some of the largest countries in the world, especially those in the BRICS group (Brazil, Russia, India, China, and South Africa), have begun to abandon the use of the US dollar for international trade. This process is called 'de-dollarization'. As part of this process, they are considering alternative assets, including cryptocurrencies. And recently, XRP has emerged quite prominently in that conversation.
In 2024, a user named CryptoGeek posted a statement that BRICS could use the XRP Ledger to develop a common global digital currency (CBDC). But why XRP? It’s fast, affordable, and scalable.
Ripple, the company behind XRP, has engaged in partnerships and relationships with many BRICS members through various financial initiatives. Back to today, the same user reposted, claiming that Congress is buying XRP at $10,000 and stating that 'XRP is the new US dollar!!'
If BRICS or any major organization adopts XRP, this could likely drive demand and adoption many times over—often a key driver pushing prices higher. However, no such public announcement has been made by the government or the US Congress stating that XRP is now the new US dollar. There is also no news indicating that Congress is purchasing XRP at a price of $10,000.