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Elon Musk is not investing $104 billion in Ripple’s XRP, despite what a viral social media post may suggest. The claim, which originated from an X (formerly Twitter) user named CryptoGeek, has sparked widespread buzz in the crypto community. The post included what seemed to be a doctored headline: ‘Elon Musk Joins Ripple Partnership, Injects $104B into XRP.’
Yet again, however, the cryptocurrency universe is stuck in a wave of speculation without substance. There is no confirmation, official statement, or evidence from Musk, Ripple, or any of their associated organizations to back this.
This is not the first time a rumor of this sort has gone viral. Only weeks ago, the same account reported that Musk was getting ready to purchase $50 billion worth of XRP, pegging the cryptocurrency at an inflated price of $600.37 per token. That rumor also had no source or verification attached to it, yet it picked up considerable steam among XRP fans, commonly called the XRPArmy.
In this new version, the post maintains that Musk values XRP’s ‘efficiency and non-security status,’ and that a Ripple alliance could assist in navigating regulatory hurdles in crypto. There is even speculation that XRP might be incorporated into Musk’s overall vision to create ‘X, ’ his self-named ‘Everything App.’
No, there is no confirmation, official or unofficial, from Elon Musk, Ripple Labs, or any of Musk’s businesses. There are releases, regulatory filings, or trusted news reporting in support of the rumor.
Fact-checkers have discredited the screenshots, referring to them as digitally manipulated and cautioning that they were most probably created to generate views through sensationalism.
Not even close. Musk’s influence on crypto is well-documented, but it revolves primarily around Dogecoin (DOGE). There is no evidence he ever publicly endorsed or interacted with XRP or Ripple in any way. Associating his name with XRP seems to be a tactical effort to bring credibility to an otherwise unfounded assertion.
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The rumor that Elon Musk is investing $104 billion in XRP has no basis in facts, words, or dollars on file. It is a prime example of crypto misinformation, a viral falsehood designed to gain attention and be spread, not verified.
Cryptocurrency markets, being highly receptive to hype-fueled social-media narratives, should remain alert. Misinformation can move markets and cause harm to unsuspecting viewers. Without any affirmation from official sources such as Elon Musk, Ripple, or regulatory agencies, tweets like this need to be met with utmost skepticism.
