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Ripple (XRP) is a dynamic cryptocurrency force to reckon with. The token has been to hell and back, fought multiple legal barriers, and has emerged stronger than ever. XRP has now started to attract huge institutional interest, the one that has helped XRP establish its incredible reputation in the cross-border payment domain. The token is now emerging as an alternative to SWIFT, possibly giving the system stiff competition in its wake. With the US dollar showcasing a bearish value stance as of late, investors cannot help but wonder whether these are the times that can promote new variables at play as financial markets of the world continue to evolve. That being said, can XRP help promote trade and ultimately end up being a capable USD replacement? Let’s find out. Also Read: Ripple: $1000 of XRP in 2014 Is Worth This Much Today Here’s How XRP Can End Dollar Dependence in Trade 1. Facilitating Fast Cross-Border Payments Source: Watcher Guru XRP is touted as one of the fastest ...

Brazil has firmly positioned itself at the forefront of the growing de-dollarization movement within BRICS nations right now, and is actively championing dollar-free trade as well as promoting local currencies for international transactions. This represents, at the time of writing, a significant challenge to the U.S. dollar’s long-established role as the primary global reserve currency. BRICS Member Pushes De-dollarization—Nations Ditch the U.S. Dollar Source: Bitcoin.com Brazil’s Finance Ministry has made its de-dollarization stance quite clear as the country has recently assumed the BRICS chairmanship in 2025. Secretary Tatiana Rosito from Brazil’s Finance Ministry stated: “The trade in local currencies is already underway, for example, between Brazil and China. No obstacles exist to that on the side of Brazil.” The expanded BRICS alliance—which now includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and also the UAE—is ...

The US presidential campaigns are inching towards their final stage, and their political undercurrents are shaping world economics. Former US president Donald Trump has already announced a trade war, adding that he may impose tariffs on countries moving away from the US dollar. If Trump is elected, his move could significantly bolster trade tensions with China, indirectly putting ASEAN under the central trade spotlight. Also Read: Ripple: ChatGPT Predicts XRP’s Price Outcome For October 2024 US-China Trade Tensions: What’s Happening? The US-China trade scenario is undergoing a transformative change. China is an active part of the BRICS alliance, which aims to derail the US dollar for good. At the same time, the coalition is also pioneering unique collaborations to carve its own independent identity while developing a currency system that directly challenges the prestige of the US dollar. However, political undercurrents are heating up the global trade scenario after US President D...

The Nigerian local currency Naira (NGN) plunged to a new low against the US dollar reaching 893.5 on Tuesday. Naira is experiencing a steady decline against the US dollar since January 2023. The currency was at 460 in January last year but doubled its losses in 2024 hitting 893 this month. The unending woes of NGN are impacting Nigeria’s economy as the currency is devalued in the global forex markets. Also Read: BRICS: UAE Pays China With New Digital Dirham, Ditches US Dollar Source: Investing.com Nigeria ’s Central Bank Governor Olayemi Cardoso said in a statement that the Naira is now an “undervalued” currency against the US dollar. Cardoso stressed that the Central Bank authorities are undertaking efforts to rectify the development and bring the Naira out of the slumber. “We believe that the naira is currently undervalued and, coupled with coordinated measures on the fiscal side. We will expedite genuine price discovery in the near term. This coordinated app...