Breaking: analysts say OPEC’s reported end could supercharge XRP’s role in a shifting global payments landscape.
News that OPEC has dissolved — and that some producers, like the UAE, are moving to price oil in local currencies — is being read by crypto market watchers as a sign the long-standing petrodollar era may be loosening. Crypto analyst Ross, in an X post on April 28, argued this could be a turning point for XRP amid what many call a global currency reset.
The historical backdrop matters: the petrodollar system was grounded in a 1974 agreement with Saudi Arabia that required oil to be sold in US dollars; by 1975, nearly all OPEC oil traded in dollars. That arrangement helped cement the dollar’s global dominance for decades. With that framework changing, Ross says cross-border trade will need a neutral, fast settlement medium — and points to XRP as uniquely positioned to fill that gap. He called the token “rocket fuel for global trade as countries break free from the dollar,” and stressed the importance of On-Demand Liquidity (ODL) to enable quicker cross-border transfers.
Versan Aljarrah, founder of Black Swan, echoes the view. He frames the weakening of the petrodollar and departures like the UAE’s from OPEC as indicators that trade will become more fragmented and multipolar. In that environment, Aljarrah argues, nations will require a “neutral settlement infrastructure” — a role he says XRP could play — helping to link the legacy financial system to a new multipolar structure and speed up currency-to-currency flows without routing through the dollar.
XRP’s credentials in this narrative are familiar: Ripple’s CEO Brad Garlinghouse and a number of industry observers have long promoted the token as a potential global settlement layer due to its speed, low costs, ODL functionality, and decentralized network. If countries increasingly trade in local currencies, proponents say, XRP’s liquidity rails could become a practical bridge for cross-border payments.
What to watch next: whether sovereign and institutional players experiment with non-dollar oil settlements and whether demand for on-demand liquidity rails like XRP’s ODL grows in response.
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