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

Is Elon Musk contemplating a substantial investment in Ripple's XRP? A recent online post, rapidly gaining traction, alleges that the prominent entrepreneur is poised to inject $104 billion into the cryptocurrency. The post prominently features a headline proclaiming: "Elon Musk Joins Ripple Partnership, Injects $104B into XRP."

The purported news report accompanying the claim suggests that Musk views XRP favorably, citing its speed, efficiency, and non-security status. Furthermore, it posits that he considers Ripple a valuable ally in navigating the complex regulatory landscape of the cryptocurrency sector.

Only weeks prior, the same source circulated claims that Musk was prepared to allocate $50 billion to XRP, further suggesting that Musk anticipates XRP reaching a remarkable value of $600.37 per coin. However, these claims lacked substantiation and official verification. Perplexity AI refuted the initial $50 billion rumor. The current rumor escalates the purported investment to an even more substantial $104 billion.

To date, no official confirmation has been issued by Musk or any relevant authorities. Therefore, it is crucial to approach this rumor with skepticism until verifiable confirmation emerges.

Rumors of a Furtive XRP Tweet from Musk Fuel Speculation

Earlier this year, whispers circulated that Musk had briefly posted, “#XRP is looking quite promising,” before swiftly deleting the message. This claim ignited excitement, drawing parallels to his past involvement with Dogecoin and Bitcoin, leading some to speculate that XRP might be his next focus. However, no tangible evidence, such as screenshots, has surfaced to validate the existence of the alleged tweet.