Elon Musk Talks About XRP for the First Time, Emphasizes Role of Cryptos Against Centralized Control

Famous American businessman and owner of microblogging platform X Elon Musk directly mentions XRP for the first time.

Elon Musk Finally Mentions XRP For The First Time In A Comment On X.

Famous American businessman and owner of microblogging platform X Elon Musk directly mentioned XRP for the first time.

Musk mentioned the seventh-biggest cryptocurrency by market cap in a viral video making rounds on Crypto Twitter.

In the video, the owner of X was asked to comment on whether he thinks XRP could be integrated into the global financial system in the future, particularly in light of the SEC’s punitive nature toward cryptos.

Elon Musk Talks About XRP.pic.twitter.com/FFhvsF6PP7

— TheCryptoBasic (@thecryptobasic) October 21, 2024

https://x.com/thecryptobasic

Responding, Musk expressed a general opinion about the role of cryptocurrencies, including XRP, emphasizing that they serve as valuable assets against centralized control.

However, he specifically mentioned that his comment “is not an endorsement or lack of endorsement for XRP.” Nonetheless, he believes that the nature of cryptos, like XRP, promotes individual freedom.

First Time Mentioning XRP

This marks the first time Musk has publicly commented on XRP in his speech. It is worth mentioning that members of the XRP community have been calling Musk’s attention to the asset on X to get his endorsement.

While he did not directly mention XRP, Musk has reacted to some developments regarding Ripple. In October 2022, he expressed shock at the news that the SEC had released the drafts of William Hinman’s infamous Ethereum speech to Ripple. Reacting to this development, the businessman tweeted, “No way.” A few months later, Musk also approved a podcast regarding Ripple's partial victory against the securities regulator.

However, the American billionaire has refused to mention XRP directly in any of his X posts. Musk’s loyalty lies with the world’s largest memecoin, Dogecoin (DOGE). Interestingly, he has publicly endorsed DOGE in multiple tweets, especially in the 2020/2021 bull market.

His endorsement of DOGE contributed to pushing the token to an all-time high in 2021. Despite being a Dogecoin enthusiast, he has mentioned Bitcoin (BTC) and Ethereum (ETH) on certain occasions. Notably, this is the first time Musk has directly mentioned XRP in a comment.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.