An Iran-linked 2021 study on XRP, a digital asset associated with Ripple, is attracting renewed attention as the US-Iran conflict puts sanctions, international transfers and reliance on traditional financial systems under scrutiny. The paper does not suggest that Iran will use XRP, does not propose it as a payment system for the Iranian government and does not address the current conflict. Instead, it examines whether XRP-based settlement can function during volatile market conditions. Its framework uses Monte Carlo simulations (probabilistic scenario modeling) across 10,000 paths, alongside a Hidden Markov Model (regime-switching statistical model), the Heston stochastic volatility model, 95% VaR and CVaR measures, and 3σ jump detection. The study assesses three RippleNet (Ripple's cross-border payments network) corridors: USD/MXN, EUR/NGN and JPY/KRW. It focuses on risk management and adaptive payment routing rather than a single payment method. The research is now being revisited by geopolitical commentators as alternative payment systems receive greater attention. The source also says Iran is using Bitcoin and Tether payments for trade amid sanctions, but it does not present that activity as connected to the XRP study.