The phrase "depending on it" can be considered as an expression of reliance or dependence on something. There are a number of synonyms that can be used to convey the same meaning, such as counting on it, relying on it, hinging on it, resting on it, and banking on it. Other possible synonyms include depending on, trusting in, leaning on, confiding in, and putting faith in something. These words express the idea of putting one's hope and trust in something, and they emphasize the importance of that thing or situation. By using these synonyms, we can add variety and depth to our language and convey the intended meaning more effectively.