No Truth to Rumor That Elon Musk Is Buying $50 Billion in $XRP

Social media was recently buzzing with a wild claim: that Elon Musk, CEO of Tesla and SpaceX, was planning to buy $50 billion worth of Ripple's XRP at an astonishing $600.37 per coin—far above its actual price. The rumor caused a stir among crypto fans, especially XRP holders, but there’s no truth to it.

The story seems to have started with a post from a user named “CryptoGeek” on X (formerly Twitter). In the post, they claimed Musk was shifting focus from Dogecoin to XRP. The post quickly spread, driven by online hype rather than any solid evidence. There were no screenshots, official statements, or credible sources to back it up.

So far, neither Musk nor anyone connected to him has indicated any interest in buying XRP, and there’s been no word from Ripple either. In fact, Musk has been a longtime supporter of Dogecoin, making the idea that he’s switching to XRP seem even more unlikely.

At the moment, XRP is trading at around $2.16, up slightly by 1.77%. Dogecoin is also up 1.28%, trading at roughly $0.1765. The lack of a major price jump in XRP shows that most investors didn’t take the rumor seriously.

Bottom line: there's no evidence that Elon Musk is investing in XRP. It’s a reminder to do your own research and not rely on unverified social media rumors when making financial decisions.