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.
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.
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: 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.
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
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