XRP News Today: Elon Musk XRP Rumor Causes 20% Trading Volume Surge

In the world of cryptocurrency, Elon Musk's influence is unparalleled. The CEO of Tesla and SpaceX, Musk's social media activity has historically caused significant market movements, with his posts leading to both surges and crashes in cryptocurrency prices. In June 2025, a new rumor emerged, suggesting that Musk was planning to invest a staggering $104 billion into Ripple's XRP. This speculation quickly spread across various platforms, sparking intense discussions and market fluctuations.

The rumor began when certain crypto news aggregators and social media accounts shared headlines claiming that Musk was not only interested in XRP but was also planning to invest $104 billion in the token. Some sources even cited "insider information" or leaked documents, suggesting that Musk intended to use XRP as the foundation for his payment strategies on X (formerly Twitter) or Tesla. However, reputable crypto news outlets quickly fact-checked these claims and found no credible evidence to support the rumors. According to Crypto Times, there was no official confirmation, filing, or credible report indicating that Musk had invested or planned to invest in XRP. The $104 billion figure was deemed a hoax, likely stemming from previous speculations or misinterpreted tweets.

Elon Musk's influence on the crypto market is well-documented. His tweets about Bitcoin's energy usage, for instance, have led to significant market shifts. His endorsement of Dogecoin transformed a meme coin into a mainstream cryptocurrency. When rumors link Musk to a new token or initiative, traders and automated systems often react impulsively, sometimes without verifying the information. The XRP rumor was no exception, with the hashtag #ElonMuskXRP trending on Twitter and leveraged trading volume surging within hours. Some traders celebrated the potential investment, while others adopted a "buy the rumor, sell the news" strategy.

Despite the false rumor, XRP remains one of the most widely traded cryptocurrencies globally. Ripple's efforts to expand its On-Demand Liquidity network, achieve regulatory clarity, and collaborate with banks have maintained real-world adoption momentum. The Musk rumor, though false, highlighted the rapid shifts in sentiment and the continued attention XRP attracts. For investors and enthusiasts, the lesson is clear: verify information before acting on rumors, as the world of digital assets is rife with misinformation and hype.

This event underscores the volatility and speculative nature of the cryptocurrency market. Rumors and misinformation can quickly spread, leading to significant market movements. The Musk-XRP saga serves as a reminder of the importance of skepticism and thorough research, especially when dealing with high-profile figures and their potential involvement in the crypto space. The rapid dissemination of false information highlights the need for caution and critical thinking among investors and enthusiasts alike.