Social media was set on fire this week with claims that Elon Musk is planning to buy $50 billion worth of XRP, Ripple’s 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.
“Elon Musk OFFERS to BUY XRP for $50 BILLION!! $600.37 per XRP,” read CryptoGeek’s viral post, which quickly gained traction among crypto enthusiasts, particularly within the ‘XRPArmy’.
However, fact-checking has debunked the claim. Perplexity AI responded, “Hey there! That claim about Elon Musk offering to buy XRP for $50 billion doesn’t appear to be true.” The AI assistant added, “Fact-checking sources have confirmed this is a false rumor… with no official announcement coming from Elon Musk, Ripple, or X.”
Adding to the speculation, CryptoGeek also alleged that Musk briefly posted “#XRP is looking quite promising” before deleting the message just 20 seconds later. He further claimed that Musk is “working on a global payments deal with Ripple.”But 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. “While there’s plenty of speculation, Musk has never officially endorsed XRP or announced a partnership,” Perplexity AI noted. “He has mostly focused on Dogecoin when discussing crypto.”
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 Ripple’s XRP will Replace the Dollar: Fact Check
