Ripple News Today : Elon Musk’s XRP Mention; Support or Just Hype?

The post Ripple News Today : Elon Musk’s XRP Mention; Support or Just Hype? appeared first on Coinpedia Fintech News

Elon Musk, the renowned CEO of Tesla and SpaceX, recently stirred excitement among the XRP community during a town hall speech in Pittsburgh. While answering audience questions, he mentioned XRP for the first time, leading many fans to speculate whether he secretly supports the cryptocurrency. However, Musk’s comments were more nuanced than enthusiastic XRP supporters might have hoped.

Do you think Musk’s XRP support can spark a rally in XRP prices? 

Musk’s XRP Take!

When asked about the potential incorporation of the XRP Ledger into financial institutions, especially considering the SEC’s ongoing opposition, Musk refrained from offering a direct endorsement. Instead, he shared his broader thoughts on cryptocurrencies, describing them as an “interesting and probably valuable bulwark against centralized control.” He quickly clarified that his remarks were “definitely not an endorsement or lack of endorsement of XRP,” but he emphasized his belief that cryptocurrencies inherently promote individual freedom.

Connecting DOGE Link

Musk is best known for supporting Dogecoin, the meme-inspired social media frenzy cryptocurrency. He has often cited his interest in Dogecoin due to its playful nature and the community around it, even owning a Shiba Inu named Floki that inspired a meme coin of its own. Musk views Dogecoin as a “currency of the people,” suggesting it’s more suitable for payments than Bitcoin. In a previous podcast, he stated he would not promote any cryptocurrency unless in humor and he warned any endorsement videos could be deepfakes.

Musk Backs Pro-XRP Lawyer 

Elon Musk has thrown his support behind pro-XRP attorney John Deaton in his campaign to unseat anti-crypto Senator Elizabeth Warren in the upcoming Massachusetts Senate election. Musk’s endorsement came in response to a post by Coinbase CEO Brian Armstrong, who urged crypto supporters to back Deaton, highlighting his commitment to advocating for crypto freedom.

Armstrong criticized Warren, labeling her as the “founder of the anti-crypto army,” and accused her of wanting to restrict individuals’ access to financial services. He suggested that her support for Gary Gensler’s appointment as SEC chairman was detrimental to the U.S. crypto industry. Musk’s affirmative reaction to Armstrong’s comments signals his alignment with the pro-crypto stance against Warren’s policies.

Musk’s open support for pro-crypto candidates shows his widespread interest and plans toward the trillion-dollar industry. Is something brewing inside? We will come to know stay tuned with us.