XRP Hovers Around $1 as BRICS Pay Rumors Spark Price Speculation

Ripple's XRP token has been hovering around the $1 mark for weeks, and recent rumors suggest it may have gained entry into BRICS Pay, a payment settlement system used by Brazil, Russia, India, China, and South Africa.

The rumor, which has been spreading on crypto Twitter, claims Standard Chartered has given XRP a 'backdoor' into BRICS Pay. However, there's no official confirmation from BRICS or Ripple regarding this claim.

XRP is indeed being used by multiple regulated Brazilian institutions for cross-border and stablecoin settlement flows. But experts caution that the lack of an explicit BRICS announcement makes it unclear whether XRP will be officially integrated into the system.