Elon Musk 'Will Do Anything' To Make XRP King, Says Tech Mogul
According to the buzz on social media, the growing confrontation between Elon Musk and U.S. President Donald Trump has impacted the world of cryptocurrencies. Musk's public criticism of a recent spending bill sparked the dispute. Then came Trump's threat to withdraw government contracts from Musk. The situation quickly complicated, and now some believe that XRP could come out on top.
The dispute between Elon Musk and Trump has fueled discussions about cryptocurrencies. Musk took to Twitter on June 4 to criticize what he called reckless government spending, warning of "serious economic risks." Shortly after, Trump responded by threatening to withdraw subsidies and contracts linked to Tesla, causing Tesla's stock to plummet, with investors seeing $150 billion in market value disappear in just a few hours.
Market movements and price swings have been observed. According to reports, Bitcoin dropped more than 5% after the news, hitting a low of $100,550 before stabilizing near $102,400. XRP was not spared either, falling alongside other major coins, although the exact drop varied across exchanges. Traders saw quick declines, followed by a modest recovery as the dust settled.
Joshua Dalton, founder of the technology services company TRIBLU, stirred the discussion with a bold statement. He suggested that Musk could choose XRP as the primary currency for the X Money payment system. Dalton argued that Musk "will do anything" to make XRP the preferred token, tagging Ripple, Musk, President Trump, and Trump's children in a single post. This move framed the drama as more than just politics, turning it into a clash of crypto loyalties.
XRP offers faster settlement and lower fees compared to Bitcoin. In 2021, Musk suspended BTC payments for Tesla due to high energy consumption and concerns over centralized mining, showing he is not afraid to change course when a currency does not align with his goals. In October 2024, Musk even mentioned XRP in a viral video, talking about cryptos like XRP potentially resisting central control, but without making a full endorsement. With the launch of X Money expected by the end of 2025, XRP's architecture for cross-border transfers could mirror what Musk is looking to create.
Some analysts point out real obstacles. Ripple still holds a large amount of XRP, and U.S. regulators are watching closely. Any significant move would require legal approvals and deep liquidity on exchanges. But for now, the idea of an "everything app" powered by XRP continues to crop up in discussions about cryptocurrencies.
