Viral Rumor Debunked: Elon Musk Is NOT Buying $50B in XRP
Why a wild crypto claim is pure fiction—and how to spot red flags.
A social media firestorm claims Elon Musk will buy $50 billion of Ripple’s XRP at $600.37 per token. XRP holders cheered, but zero evidence supports this. Let’s dissect the rumor:
🔥 Origin: A Deleted Tweet
The story started with “CryptoGeek” on X (Twitter), alleging Musk was “dumping $DOGE coin for XRP.” No sources, no proof—just virality. It spread to Telegram, forums, and feeds worldwide.
❌ Why It’s FALSE:
1. Silence from Key Players
→ No comment from Musk, Tesla, SpaceX, or X.
→ Ripple Labs hasn’t acknowledged any talks.
→ No leaks, documents, or blockchain data.
2. Musk’s Loyalty to DOGE
He consistently calls Dogecoin “the people’s crypto” and has never publicly endorsed XRP.
3. The Math Doesn’t Work
- Current XRP price: ~$2.14
- **Claimed purchase price: $600.37 (28,000% higher!)
- $50B at $600/token? That’s 83 million XRP—but XRP’s entire market cap is only $40B. Impossible.
📉 Market Reaction: No Spike, No Surge
If true, XRP’s price would’ve skyrocketed. Instead:
- Price: Flat at ~$2.14
- 24h Change: -0.02%
- Volume: No unusual activity.
Smart money ignored the noise.
⚠️ How to Spot Crypto Rumors:
- ✅ Check official channels (Musk’s X, Ripple’s site).
- ✅ Ask: “Does this make sense? ($600/XRP? No.)
- ✅ Watch price action: Real news moves markets.
- ❌ Never FOMO into unverified tweets.
🧠 The Bottom Line:
This is 100% fabrication. Likely a pump scheme or engagement bait. Until Musk himself announces an $XRP pivot, treat this as fantasy.
📌 Stay skeptical. Verify, then trust.
Your portfolio will thank you.
