Fact Check: Is Elon Musk Buying XRP (Ripple)?

The post Fact Check: Is Elon Musk Buying XRP (Ripple)? appeared first on Coinpedia Fintech News

Is Elon Musk planning an investment in Ripple’s XRP? A recent viral post has claimed that the billionaire is set to invest $104 billion into the cryptocurrency. The post even shared a headline that read: “Elon Musk Joins Ripple Partnership, Injects $104B into XRP.”

The attached news report says that Musk sees XRP as fast, efficient, and not a security. He also sees Ripple as a strong partner in in tackling regulatory challenges across the industry.

Just weeks ago, the same account made comments that Musk was ready to spend $50 billion on XRP. It also added that Musk believes XRP could hit a massive $600.37 per coin. But there was no evidence or official confirmation to back it up. Perplexity AI claimed that the $50 billion rumor wasn’t true. The latest rumor boasts an even larger figure of $104 million.

However, there is no confirmation about the same from any officials. Hence, the rumour should not be taken seriously until Musk or other officials confirm it.

Rumored XRP Tweet from Musk Raises Questions

Earlier this year, rumors circulated that Musk had briefly posted, “#XRP is looking quite promising,” before deleting it just seconds later. The claim had also sparked excitement, with many citing his previous interest in Dogecoin and Bitcoin as a possible sign he could now be turning his attention to XRP. However, no screenshots have surfaced to prove the tweet existed.