A recent official BRICS report has indicated XRP Ledger (XRPL) as a potential solution for powering a shared digital payment network. The report highlights XRPL’s speed, cost-effectiveness, and ability to connect various currencies as key advantages for this purpose. Analysts believe that adoption of XRPL by BRICS nations could significantly boost demand for XRP, potentially driving its price up to $5 in the short term. This comes as BRICS continues its exploration of digital assets for cross-border payments, specifically aiming to develop a gold-backed digital asset pilot and find advanced payment solutions within the bloc. The report’s findings follow recent developments by BRICS member nations such as Russia, which has been exploring innovative financial solutions. The Infobrics website highlights the pressing need for a faster, neutral, and censorship-resistant system for cross-border transactions, prompting speculation regarding the potential use of XRPL to address these needs. XRPL’s ability to settle transactions in seconds at minimal cost, coupled with support for digital assets like stablecoins and tokenized goods, makes it an attractive contender for this purpose. This has led to increasing momentum for the XRP Ledger within the BRICS bloc. If widespread adoption of XRPL occurs, as suggested by market experts, this could significantly impact Ripple (XRP) prices. Some reports indicate that XRP is currently supported at a price of $2.70 while there’s an increase in whale accumulation. As of now, BRIC Chain trades at $17.10 with a 0.3% increase in the past day, while Ripple (XRP) has seen a rise of 1.95% over the past 24 hours. A chart of XRP’s price movement is provided below for further reference.