One implication is that he becomes much more powerful. The Rinnegan gives him access to powerful abilities like the Six Paths techniques, which would change the power dynamics in battles in the fanfiction. He could now face stronger enemies more easily.
It might be related to a connection with some powerful entity in the Wave arc. For example, if there's a secret shinobi from the past whose power is tied to the Rinnegan and Naruto somehow forms a bond with that power source, it could lead to the awakening. Also, the intense emotions and challenges he faces in the Wave arc might be a catalyst, pushing his chakra to a new level and awakening the Rinnegan.
One possible plot twist could be that Naruto's awakening of the Rinnegan is not a natural occurrence. Maybe it's the result of a long - hidden jutsu or a curse placed on him by an ancient enemy. This could lead to Naruto having to struggle not only with the new power but also with the implications of how he got it.
Some would be in awe. The villages that Naruto has helped in the past would likely see it as another sign of his strength and a great asset. For example, the Hidden Leaf Village would feel even more protected. However, the other villages that have been enemies or rivals in the past might see it as a threat and start to plot against Naruto and the Leaf Village.
Naruto would likely become more confident in battle. With the Rinnegan, he has access to new and powerful techniques. This would change his fighting style and make him bolder in combat situations. He may also start to take on more leadership roles as others recognize the power of his new - found ability. For example, he could lead more complex and dangerous missions. Moreover, his relationships with some characters might change. Some who were once his equals in power might now look up to him more, which could create new dynamics in his friendships and alliances.
In Naruto fanfiction, the Rinnegan in Naruto is often portrayed in really cool and powerful ways. Some fanfics might give Naruto the ability to use all the Rinnegan powers to their fullest extent right away, like being able to effortlessly summon the Gedo Statue or use the Deva Path powers without any drawbacks. It's a way for writers to explore new storylines and make Naruto even more of a badass than he already was in the original series.
There's a fanfic where the female Naruto gets the Rinnegan and teams up with some unexpected allies. This fanfiction focuses on her journey to understand the true nature of the Rinnegan and how it can be used to bring peace to the ninja world. It's a great read as it shows her growth from a young kunoichi to a powerful force with the Rinnegan.
In a Rinnegan Naruto The Originals fanfiction, the story could focus on Naruto exploring the true origins of the Rinnegan. He might discover that the Rinnegan has a connection to his Uzumaki heritage that was previously unknown. This could lead to a whole new arc where he has to travel to different hidden villages or ancient ruins to uncover more about this powerful eye technique and how it relates to his family's past.
Well, there's a fanfic called 'Naruto's Rinnegan Adventure'. In this story, Naruto discovers the Rinnegan early on and has to deal with the consequences. It's interesting as it shows how his relationships with his friends and the village change due to this new power. Also, 'Rinnegan - Naruto's New Path' is a good one. It follows Naruto as he uses the Rinnegan to reshape the ninja world, facing many challenges along the way.
It could completely change the power dynamic in the story. Naruto with the Rinnegan would likely become almost invincible, making his battles much less challenging.