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XRP, itself, is used to source liquidity on-demand and reduce the amount in nostro accounts required to make global payments. Ripple also funds the Interledger Protocol, a software platform that aims to facilitate transactions between cryptocurrencies and bank ledgers.

XRP which is the actual cryptocurrency is a token which is used on the Ripple network to facilitate transfers of money between different currencies. Existing settlement systems generally use US dollars as a common currency for converting between other currencies.

Exchange. An IMF member country that requires actual foreign currency may sell its SDRs to another member country in exchange for the currency. To sell a part or all its SDRs, the country must find a willing party to buy them. The IMF acts as an intermediary in this voluntary exchange.

The Special Drawing Right (SDR) is an interest-bearing international reserve asset created by the IMF in 1969 to supplement other reserve assets of member countries. The SDR is based on a basket of international currencies comprising the U.S. dollar, Japanese yen, euro, pound sterling and Chinese Renminbi.

The IMF Executive Board approved today new amounts for the five currencies that will determine the value of the Special Drawing Right (SDR) from August 1 onward for a five-year period....Press Release IMF Determines New Currency Amounts for the SDR Valuation Basket. Japanese yen13.452Pound sterling0.0808704 more rows ?

Governments can influence the price of crypto in several ways. First, they can regulate the price of digital assets through buying and selling actions through international marketplaces. Second, they can engage in creating strict regulations that could inevitably lead to an increase in cost.

Cryptocurrencies are a tradable asset, much like stocks, commodities, securities and so on. Their price is determined by how much interest there is on the market in buying them that's called demand and how much is available to buy that's supply. The relationship between the two determines the price.