A new wave of speculation is growing in the crypto community about whether Ripple could be positioning the XRP Ledger (XRPL) closer to the global oil market, one of the world’s most valuable commodity markets. An XRP advocate has pointed to the crypto company’s recent expansion in the Middle East, amidst the ongoing shift in international oil trade, as a sign of a possible move toward blockchain-based commodity settlement. He questions whether XRPL could play a future role beyond traditional cross-border payments.
How Ripple And XRPL Are Linked To The Global Oil Market
Stellar Rippler, a crypto market commentator and XRP supporter, has outlined a theory connecting recent moves by Ripple to broader changes in global finance and energy markets. In a May 2 post on X, he raised the question, “oil on the XRP Ledger?” implying a connection between Ripple and the ongoing, shifting dynamics of the oil trade.
He ties this view to Ripple’s recent expansion in Dubai. Stellar Rippler pointed out that Ripple has officially established a new Middle East and African headquarters in the Dubai International Financial Center (DIFC), a move he says strategically places the crypto company at the center of the UAE’s finance and internal capital flows.
According to the analyst, Ripple’s choice of Dubai was deliberate, given the country’s role as a global hub for both finance and energy trade. He argues that rather than an expansion, the move into Dubai signals a deeper integration into regions where large-scale commodity transactions are negotiated and settled.
Steller Rippler also pointed to the UAE’s recent exit from OPEC, which ended the 2016 agreement between Russia and Saudi Arabia and now gives the country the freedom to pump and sell oil to any country it desires. For Ripple, this landmark shift highlights the UAE’s growing financial independence, especially as the country recently recognized XRP and RLUSD as a regulated currency for payments within its borders.
Moreover, Stellar Rippler cited a 2025 oil transaction between India and the UAE that was settled in their respective currencies. He noted that such deals could indicate early efforts to move away from the US dollar, which has long been the main currency for oil trades worldwide.
Stellar Rippler also noted ongoing talks with BRICS countries about limiting the use of the US dollar during trades with other nations. He noted that rather than using the dollar, many BRICS nations, including Japan and South Korea, have already begun adopting XRPL for cross-border payments.
XRP Ledger Tied To Cross-Border Commodity Payments
Building on the above developments, Stellar Ripple argued that the XRP Ledger is currently the only “neutral, instant, compliant bridge asset” built for settling cross-border payments, including those tied to commodities such as oil, gold, and silver. He pointed to remarks by Jamie Dimon, CEO of JPMorgan Chase, who publicly acknowledged that blockchain is a better technology for running parts of the global financial system.
Stellar Rippler noted that JPMorgan has also signaled support for XRP by suggesting it as an ideal payment infrastructure for banks. These developments further reinforce his theory of XRPL becoming a potential core settlement layer within Dubai’s evolving commodity market.
Featured image created with Dall.E, chart from Tradingview.com
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