The BRICS bloc is taking major steps towards integrating digital assets to promote investments and economic development within its member states and across other emerging economies.

This initiative builds on previous discussions about developing a blockchain-powered payment system for the group.

BRICS Advancing Digital Assets for Investment Payments

During the BRICS Business Forum on October 18, Russian President Vladimir Putin announced that the alliance had agreed to incorporate digital assets into their investment payment systems. This decision marks a major shift in how BRICS nations plan to handle cross-border transactions and investments.

Member countries will now be able to settle investment payments using cryptocurrencies such as Bitcoin and stablecoins. There are also ongoing discussions about launching a stablecoin backed by China’s Yuan. This move would further facilitate secure and efficient transactions within the bloc.

Putin emphasized that the move would also benefit other developing nations by opening up new opportunities for economic growth.

“We will discuss the use of digital currencies in investment developments by BRICS member states, and this will also benefit other developing and emerging economies with good prospects,” Putin stated.

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BRICS, consisting of Brazil, Russia, India, China, and South Africa, has been making efforts to assert greater economic independence on the global stage. Over the past year, the group has focused on reducing its reliance on the US dollar in international trade. Instead, they have encouraged the use of local currencies.

In line with this broader strategy, BRICS has launched a new platform called BRICS Pay. This blockchain-based system functions similarly to the SWIFT network. However, it is designed to facilitate transactions between BRICS countries without dependence on Western-controlled financial institutions.

The platform also aims to promote the use of national digital currencies for investment and trade. According to the group, this move would help to build a more resilient financial architecture.

“BRICS Pay will complement the capabilities of existing payment systems and methods, enhancing security, accelerating, and reducing the costs of international transactions,” the group stated.

Meanwhile, the BRICS bloc has been expanding its global influence, with recent additions to its ranks, including Egypt, Ethiopia, Iran, and the United Arab Emirates. More than 30 other countries have shown interest in forming closer ties with the group, reflecting its growing significance in shaping global economic trends.

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The next BRICS meeting, scheduled to take place in Kazan, will address potential further expansion and other strategic initiatives. With the bloc expected to drive a significant portion of global economic growth in the coming years, BRICS is positioning itself as a major force in reshaping the global financial landscape.

Earlier this month, Ripple’s (XRP) price dropped by 18% within three days. Since October 3, however, the token has stabilized, trading between $0.52 and $0.55.

While big market players are accumulating XRP, which could boost its value, it’s uncertain if this is enough to prevent the token from dipping below $0.50.

Ripple Bulls Show Support for the Altcoin

According to Santiment, addresses with holdings between 100 million and 1 billion XRP owned 9.63 billion tokens on October 17. That amount has since increased to 9.77 billion, indicating an accumulation of around 140 million XRP, valued at about $77 million.

Typically, when large investors accumulate tokens, it signals an expectation of a price increase. Conversely, a reduction in holdings often suggests an impending price drop. Given the recent accumulation, XRP could be poised to rise above $0.55.

Read more: XRP ETF Explained: What It Is and How It Works

Another factor supporting this prediction is the Funding Rate, which measures the difference between the mark price of perpetual futures and the index price, representing the spot price of the underlying asset.

When the Funding Rate rises, longs are paying shorts, signaling that traders are generally bullish. A decline in the rate indicates shorts paying longs, reflecting bearish sentiment.

For XRP, the Funding Rate is currently positive. If this trend continues, the altcoin’s price could increase, leading to potential profits for traders holding long positions.

XRP Price Prediction: Bounce Imminent

On the daily chart, XRP’s price is swinging between $0.52 and $0.54. However, a look at the chart shows that the $0.52 level is strong support for the token because bulls have defended the price from below that point several times over the last few weeks.

Considering this position, it is highly unlikely that altcoin will drop to $0.50 or below it. Instead, the Fibonacci indicator, which measures support and resistance, reveals that XRP’s price might bounce off that support.

Read more: How to Buy XRP and Everything You Need To Know

With increasing buying pressure, the cryptocurrency’s value might hit $0.60. However, if XRP slips below $0.52 and bulls fail to defend the token, a drawdown to $0.49 could be next.

For most of the week, the Toncoin (TON) price remained range-bound at $5. This movement contradicts previous signals that the altcoin’s value would trade much higher.

While TON still has the potential to go beyond the current levels, recent data shows that it could take some time as it could undergo a brief decline before that. Here is how.

Toncoin Flashes Bearish Signs

One key factor that could lead to a further decline in Toncoin’s price is the Daily Active Addresses (DAA) divergence. This metric tracks whether an asset’s price moves in tandem with user activity on its blockchain.

When both price and active addresses rise, it’s considered a buy signal, suggesting the cryptocurrency’s value may climb. Conversely, a drop in user interaction signals potential price weakness.

Data from Santiment shows that TON’s DAA has plummeted by 138.59% in the past 24 hours. This sharp drop suggests that many active users who traded the token yesterday have stepped back, signaling a bearish outlook for the price.

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Another indicator contributing to this decline is Network Growth, which tracks the rate of new user adoption. When network growth increases, it signals a rise in the number of new addresses completing their first successful transactions, suggesting growing traction on the network. Conversely, a decline in network growth indicates a slowdown in this activity.

Regarding price movements, an increase in this metric can often precede a significant price surge. However, in TON’s case, the metric has declined, suggesting that TON may experience a short-term price dip.

TON Price Prediction: Run to $7 Delayed

An assessment of the TON/USD chart shows that the Chaikin Money Flow (CMF) has dropped significantly. The indicator’s primary purpose is to distinguish between periods of accumulation and distribution.

When the CMF is above the zero line, it indicates that the cryptocurrency is experiencing net accumulation. On the other hand, a reading below the zero signal indicates that the distribution is higher.

As seen below, the CMF is down to -0.22, suggesting that Toncoin is facing a high level of selling pressure. Should this continue, TON’s price might fall below the $5.05 support and hit $4.69.

Read more: 6 Best Toncoin (TON) Wallets in 2024

Meanwhile, if bears halt their momentum, bulls could take advantage of the fatigue. In that scenario, buying pressure might become higher, and TON’s price could climb toward $6 or as high as $7.