Elon Musk, CEO of Tesla and SpaceX, immediately discussed XRP for the primary time all through a The town Corridor assembly in Pittsburgh, Pennsylvania. The discussion spread out when an attendee, reputedly a supporter, requested Musk: “Do you envision the XRP Ledger being integrated into monetary establishments sooner or later?”
He answered thoughtfully: “I do assume that cryptocurrency is a fascinating and most definitely precious bulwark in opposition to centralized regulate.” Musk, who needs to be cautious what he says in public because of his succeed in and recognition, it appears attempted to steer clear of any misunderstandings and interpretations, which is why he clarified additional, “that is indubitably no longer an endorsement or loss of endorsement for XRP.”
The Tesla CEO additional added, “however I do assume crypto by means of its very nature is helping with particular person freedom.”
BREAKING:
ELON MUSK ASKED ABOUT $XRP!
Elon Musk used to be requested— “Do you envision the XRP Ledger being integrated into the monetary establishments sooner or later”
Elon answered by means of mentioning — “ That is indubitably no longer an endorsement or loss of endorsement for XRP, however I do assume… percent.twitter.com/Y4fndBjiFg
— Just right Morning Crypto (@AbsGMCrypto) October 20, 2024
Elon Musk’s Historical past With XRP
The group reacted all of a sudden to Musk’s feedback. Vandell, referred to as Black Swan Capitalist (@vandell33) on X, speculated: “Be aware of how apprehensive he used to be. Musk’s reaction used to be as surprising because it used to be revealing. Why can billionaires endorse Bitcoin & Dogecoin however can’t discuss on XRP? Take into accounts it. The silence says all of it.”
Significantly, this example marks the primary time Musk has publicly commented on XRP all through a speech. Participants of the group have lengthy been in search of Musk’s consideration on X, hoping for his endorsement of the asset.
Whilst Musk didn’t explicitly endorse XRP, he had two circumstances of interactions with the group. Prior to now, Musk has reacted to traits involving Ripple. In October 2022, he expressed wonder when the United States Securities and Change Fee launched drafts of former SEC Director William Hinman’s speech on Ethereum to Ripple. Responding to Ripple CEO Brad Garlinghouse’s announcement, Musk tweeted, “No approach.”
A couple of months later, Musk praised an episode of “The All-In Podcast” that mentioned subjects together with “Inflation, marketplace rips, Ripple/MSFT beat regulators, NATO summit, cocktails of teenybopper,” calling it a “Just right podcast.”
Regardless of those interactions, Musk has evaded immediately bringing up XRP in his posts on X. His public endorsements have essentially eager about Dogecoin (DOGE), the sector’s biggest memecoin. All the way through the 2020/2021 bull marketplace, Musk’s widespread mentions of DOGE contributed to its surge to an all-time top in 2021. He has additionally sometimes referenced Bitcoin (BTC) and Ethereum (ETH).
There has additionally been substantial hypothesis about Elon Musk’s intentions to include cryptocurrency into X Fee infrastructure. Following his acquisition and rebranding of Twitter to X, many imagine that he objectives to grow to be the platform into an “the whole thing app,” integrating social media with monetary products and services.
Musk has hinted at the potential for introducing cryptocurrency bills on X, and Dogecoin is regularly discussed as a most probably candidate because of his private affinity for the token. In 2021 and 2022, Musk’s firms, Tesla and SpaceX, started accepting Dogecoin for products purchases, signaling his willingness to undertake the cryptocurrency in sensible packages.
At press time, XRP traded at $0.5551.
