Social media was set on fire this week with claims that Elon Musk is planning to buy $50 billion worth of XRP, Rippleās native cryptocurrency. The rumor, which originated from an X user named CryptoGeek, also claimed that Musk expects XRP to reach an eye-popping value of $600.37 per coin.
āElon Musk OFFERS to BUY XRP for $50 BILLION!! $600.37 per XRP,ā read CryptoGeekās viral post, which quickly gained traction among crypto enthusiasts, particularly within the ‘XRPArmy’.
However, fact-checking has debunked the claim. Perplexity AI responded, āHey there! That claim about Elon Musk offering to buy XRP for $50 billion doesn’t appear to be true.ā The AI assistant added, āFact-checking sources have confirmed this is a false rumorā¦ with no official announcement coming from Elon Musk, Ripple, or X.ā
Adding to the speculation, CryptoGeek also alleged that Musk briefly posted ā#XRP is looking quite promisingā before deleting the message just 20 seconds later. He further claimed that Musk is āworking on a global payments deal with Ripple.āBut despite the buzz, no screenshot or archived copy of the alleged tweet has surfaced.
Even CryptoGeek failed to provide evidence. This has led many to believe the post may have never existed. āWhile there’s plenty of speculation, Musk has never officially endorsed XRP or announced a partnership,ā Perplexity AI noted. āHe has mostly focused on Dogecoin when discussing crypto.ā
With the XRP community fueling speculation, analysts caution investors to remain skeptical of unverified social media posts. Until Musk or Ripple confirms any involvement, the rumor remains just an ‘unsubstantiated hype’.
Also Read: US Declares Rippleās XRP will Replace the Dollar: Fact Check
