YEREVAN (CoinChapter.com) — Recently, there’s been loads of buzz about Elon Musk presumably including XRP as a cost possibility on his platform, X. To get a greater understanding of what’s occurring, let’s have a look at the small print surrounding these rumors.
RippleLord Sparks XRP Hypothesis with Elon Musk’s Cryptic Tweets
The hypothesis actually took off when a tweet from an account named RippleLord began making the rounds. The tweet claimed that Elon Musk is ready for the proper second to announce that X will start utilizing XRP as a cost technique.
Connected to this declare was an older tweet from Elon Musk, the place he cryptically said,
“I know eXactly what we need to do at twitteR. Payments!”
The emphasis on the letter “X” led many to take a position that Musk may be hinting at XRP integration.
Along with this, one other tweet by Elon Musk fueled to the fireplace. On October 18, 2023, Musk posted a cryptic message saying, “In X S.” This straightforward phrase led many to interpret it as a possible reference to XRP or SHIB (Shiba Inu), inflicting additional hypothesis among the many cryptocurrency neighborhood.
Nevertheless, it was later revealed that the voice notice and the speculated plans for XRP weren’t primarily based on any official statements. The voice notice that some believed was from Musk turned out to be from an impersonator. Sources have since confirmed that there isn’t any official foundation for the claims made in these tweets.
XRP Stays Regular Regardless of Hypothesis Round X Rebranding and Ripple Collaboration
Within the wake of Twitter’s rebranding to X, discussions emerged about doable collaborations between X and blockchain corporations like Ripple, the corporate behind XRP. This rebranding elevated visibility for Ripple.
Apparently, regardless of the excitement, XRP’s market price remained secure, indicating that the market is skeptical of those rumors. Usually, Elon Musk’s statements have a major affect on cryptocurrency costs, however on this case, the market’s lack of response means that these rumors are being taken with warning.
XRP Slips to $0.5723 Amid Market Decline and Volatility
In the mean time of writing, XRP price is buying and selling at $0.5723, reflecting a 4.81% lower over the previous 7 days. The market cap at the moment stands at $32,151,303,946, rating it because the #7 cryptocurrency by market cap.
The 24-hour buying and selling quantity has additionally dropped, with a 33.09% lower, amounting to $1,090,497,210. The circulating provide is 56,180,094,752 XRP, making up 56.18% of the whole, practically 100 billion XRP. The chart reveals XRP experiencing volatility not too long ago, with a noticeable drop after reaching a peak of round $0.60 on August 25, 2024.
