What Elon Musk Said When Asked About Ripple (XRP)

Tesla founder Elon Musk recently found himself in the spotlight once again when asked about the potential future of XRP in financial institutions. While carefully avoiding any direct endorsement or criticism of XRP, Musk’s response highlighted his broader views on cryptocurrency.

During a public appearance, an audience member posed a pointed question about XRP’s future in light of the SEC’s recent crypto crackdowns. The questioner specifically asked if Musk envisioned the XRP Ledger being incorporated into financial institutions in the future.

Musk sidestepped XRP-specific question

In his measured response, Musk sidestepped the XRP-specific inquiry, instead offering a broader perspective on cryptocurrency’s societal impact. “I certainly cannot speak to any specific crypto,” Musk began.

BREAKING: 🇺🇸 ELON MUSK ASKED ABOUT $XRP!

Elon Musk was asked— “Do you envision the XRP Ledger being incorporated into the financial institutions in the future”

Elon responded by stating — “ This is definitely not an endorsement or lack of endorsement for XRP, but I do think… pic.twitter.com/Y4fndBjiFg

— Good Morning Crypto (@AbsGMCrypto) October 20, 2024

The SpaceX CEO then pivoted to what he sees as cryptocurrency’s core value proposition: “Cryptocurrency is an interesting and probably valuable bulwark against centralized control,” Musk stated.

Musk was quick to clarify that his comments should not be construed as an endorsement or criticism of XRP specifically. “This is definitely not an endorsement or lack of endorsement for XRP,” he emphasized.

However, he did reiterate his belief in cryptocurrency’s fundamental role in promoting personal freedom.

This careful balancing act – acknowledging crypto’s potential while avoiding specific token endorsements – is characteristic of Musk’s recent approach to cryptocurrency discussions.

As a high-profile figure whose words can significantly impact markets, Musk has become increasingly cautious about his words.