XRP Gains Spotlight as Elon Musk Addresses Cryptocurrency’s Role in Financial Systems

Elon Musk mentions XRP publicly for the first time, highlighting crypto’s role in decentralization.
The XRP community reacts with excitement as Musk’s comment fuels speculation about future integration.
Despite speaking on XRP, Musk’s loyalty remains with Dogecoin, which X already supports for payments.

Elon Musk has mentioned XRP publicly for the first time. In a video circulating on Crypto Twitter, he addressed whether XRP could play a role in the global financial system.

His response highlighted the broader role of cryptocurrencies in reducing centralized control. Musk emphasized that although his statement was not a promotion of XRP, he supported the liberty provided by cryptocurrencies, including XRP.

XRP Community’s Response

This comment has stirred the XRP community, which has long sought Musk’s recognition. Prominent XRP enthusiasts have expressed optimism, noting the similarity between the X logo and the XRP symbol.

He previously reacted to XRP-related news, such as Ripple’s legal battles with the SEC. In October 2022, he responded with a simple No way after learning about the SEC’s release of documents tied to Ethereum’s regulatory status. His indirect involvement continued when he endorsed a podcast discussing Ripple’s partial legal victory.

Dogecoin Remains Musk’s Favorite

Even though Musk mentioned XRP, he remains primarily interested in Dogecoin (DOGE). During the bull market of 2020/2021, he openly expressed his endorsement for DOGE, contributing to its price reaching all-time highs. The platform X has also been integrating features like crypto payments, with DOGE being one of the currencies accepted. This has strengthened the belief among DOGE supporters that Musk favors the meme coin over others.

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The Future of X and Crypto Payments

X has secured money transmitter licenses in 29 U.S. states, aiming to launch crypto payment services soon. Musk’s push towards integrating cryptocurrencies on X hints at a broader plan for digital currency transactions, although XRP’s role remains uncertain.

While his mention of XRP does not guarantee its inclusion, it does open the door for further discussions among crypto enthusiasts.

Austin Mwendia

Austin Mwendia is a seasoned crypto writer with expertise in blockchain technology and finance. With years of experience, he offers insightful analysis, news coverage, and educational content to a diverse audience. Austin's work simplifies complex crypto concepts, making them accessible and engaging.