Rumors have been swirling in the crypto community about Tesla CEO Elon Musk allegedly planning a massive $104 billion investment in Ripple’s XRP. The speculation gained traction after a post by the user CryptoGeek on X (formerly Twitter) claimed Musk was set to inject this staggering sum into XRP, even sharing a screenshot of a supposed news headline: “Elon Musk Joins Ripple Partnership, Injects $104B into XRP”.
What Sparked the Rumor?
The latest wave of speculation follows earlier claims that Musk was preparing to buy $50 billion worth of XRP, with bold predictions of the token reaching $600 per coin. These posts, widely circulated among the XRP community, cited Musk’s interest in XRP’s efficiency and its “non-security status” as key factors. Some even suggested that XRP could become the backbone of Musk’s vision for X, his so-called “Everything App,” potentially serving as a core payment mechanism.
Is There Any Truth to the Claims?
Despite the viral nature of these rumors, there is no official confirmation from Elon Musk, Ripple, or any of Musk’s companies regarding such an investment or partnership. No major financial news outlets or regulatory filings have substantiated the claims. The posts originated from social media speculation and have not been backed by credible evidence or statements from the parties involved .
Why Do These Rumors Persist?
Elon Musk’s history with cryptocurrencies—particularly his public support for Dogecoin—has made him a frequent subject of crypto-related rumors. The excitement around his potential involvement with XRP is understandable, given his influence on digital asset markets. However, fact-checking reveals that these claims are unfounded and likely fueled by community hype rather than verifiable information .
Investor Takeaway
The crypto market is highly susceptible to rumors and misinformation, especially when high-profile figures like Musk are involved. Investors and enthusiasts should approach such claims with caution and rely on official sources before making decisions. As of now, the story of Musk’s $104 billion XRP investment remains purely speculative and unconfirmed by any reliable authority .
“Until there’s confirmation from reliable sources, this $104 billion XRP investment remains purely speculative.
