The United States declares that Ripple's XRP will replace the dollar: Fact check

The Ripple community is under heavy attack with claims that the U.S. Congress is buying XRP at $10,000 and officially adopting XRP in place of the U.S. dollar. It sounds sensational, but let’s take a look at what is really 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 started 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 might use the XRP Ledger to develop a common global digital currency (CBDC). But why XRP? It is 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 a price of $10,000 and stating that "XRP is the new American dollar!!" If BRICS or any major organization adopts XRP, this could significantly boost demand and adoption—often a driver for prices to rise higher. However, there has been no public announcement made by the government or the U.S. Congress stating that XRP is now the new U.S. dollar. There is also no news indicating that Congress is purchasing XRP at a price of 10,000 dollars.