AltcoinNewsSmartnews

Is Elon Musk Really Planning to Launch XRP Payments on X?

By Tatevik Avetisyan 4 Min Read
Is Elon Musk Really Planning to Launch XRP Payments on X?

YEREVAN (CoinChapter.com) — Lately, there’s been a lot of buzz about Elon Musk possibly adding XRP as a payment option on his platform, X. To get a better understanding of what’s going on, let’s look at the details surrounding these rumors.

Contents
RippleLord Sparks XRP Speculation with Elon Musk’s Cryptic TweetsXRP Stays Steady Despite Speculation Around X Rebranding and Ripple CollaborationXRP Slips to $0.5723 Amid Market Decline and Volatility

RippleLord Sparks XRP Speculation with Elon Musk’s Cryptic Tweets

The speculation really took off when a tweet from an account named RippleLord started making the rounds. The tweet claimed that Elon Musk is waiting for the perfect moment to announce that X will begin using XRP as a payment method.

- Advertisement -

Attached to this claim was an older tweet from Elon Musk, where he cryptically stated,

“I know eXactly what we need to do at twitteR. Payments!”

The emphasis on the letter “X” led many to speculate that Musk might be hinting at XRP integration.

RippleLord's Claim: Elon Musk to Announce XRP Payments on X?" Source: Screenshot from RippleLord
RippleLord’s Claim: Elon Musk to Announce XRP Payments on X?. Source: RippleLord

In addition to this, another tweet by Elon Musk fueled to the fire. On October 18, 2023, Musk posted a cryptic message saying, “In X S.” This simple phrase led many to interpret it as a potential reference to XRP or SHIB (Shiba Inu), causing further speculation among the cryptocurrency community.

- Advertisement -
Musk’s Cryptic Tweet: ‘In X S’ Stirs Speculation" Source: Elon Musk
Musk’s Cryptic Tweet: ‘In X S’ Stirs Speculation. Source: Elon Musk

However, it was later revealed that the voice note and the speculated plans for XRP were not based on any official statements. The voice note that some believed was from Musk turned out to be from an impersonator. Sources have since confirmed that there is no official basis for the claims made in these tweets.

XRP Stays Steady Despite Speculation Around X Rebranding and Ripple Collaboration

In the wake of Twitter’s rebranding to X, discussions emerged about possible collaborations between X and blockchain companies like Ripple, the company behind XRP. This rebranding increased visibility for Ripple.

Interestingly, despite the buzz, XRP’s market price remained stable, indicating that the market is skeptical of these rumors. Typically, Elon Musk’s statements have a significant impact on cryptocurrency prices, but in this case, the market’s lack of reaction suggests that these rumors are being taken with caution.

XRP Slips to $0.5723 Amid Market Decline and Volatility

At the moment of writing, XRP price is trading at $0.5723, reflecting a 4.81% decrease over the past 7 days. The market cap currently stands at $32,151,303,946, ranking it as the #7 cryptocurrency by market cap.

The 24-hour trading volume has also dropped, with a 33.09% decrease, amounting to $1,090,497,210. The circulating supply is 56,180,094,752 XRP, making up 56.18% of the total, nearly 100 billion XRP. The chart shows XRP experiencing volatility recently, with a noticeable drop after reaching a peak of around $0.60 on August 25, 2024.

XRP Dips Amid Market Volatility: $0.5723 and Falling" Source: CoinMarketCap
XRP Dips Amid Market Volatility: $0.5723 and Falling. Source: CoinMarketCap

You Might Also Like

Pi Network Announced Upcoming Goals, Pi Coin Fails To Rise

Most Investors Don’t Trust Solana — Latest Survey

Top 5 Stock Market Gainers: VCIG, ITOS, APLS, CTNT, RCUS

What is Kaspa Token And Why is It Rallying?

POODL NFT drops on OpenSea, while POODL token gains 37%

TAGGED:

Tatevik Avetisyan

Tatev Avetisyan is a writer at CoinChapter, based in Yerevan, focusing on cryptocurrency and blockchain topics. With a background in business consulting and digital marketing, she provides clear and informative articles about the latest developments in the crypto sector. Her work supports readers in understanding key trends and concepts in blockchain technology. Contact: [email protected]

71 Comments

71 responses to “Is Elon Musk Really Planning to Launch XRP Payments on X?”

Leave a Reply

Your email address will not be published. Required fields are marked *