On July 15, 2024, a simple tweet by Elon Musk, the owner of the social media giant X (formerly Twitter), sent ripples (pun intended) through the XRP community. The tweet, a short video featuring the X logo, sparked speculation among crypto enthusiasts, particularly those invested in XRP.
This isn’t the first time Musk has triggered the XRP army. The visual similarity between the X and XRP logos has long fueled hopes that XRP might be integrated into X’s payment system. This latest tweet, while seemingly innocuous, reignited those hopes.
However, it’s important to understand the context. Musk, a vocal advocate for free speech, has repeatedly emphasized his purchase of Twitter as a move to protect online discourse. The “X logo” tweet could simply be a reminder of his commitment to this mission.
Despite this, XRP enthusiasts like @XRPcryptowolf on X are quick to point out the logo connection, highlighting the potential for integration. It’s worth noting that Dogecoin (DOGE), a meme-based cryptocurrency championed by Musk, remains the frontrunner for such an integration.
Interestingly, the tweet also garnered a positive response from a SHIB (Shiba Inu) supporter, demonstrating the broader crypto community’s interest in X’s payment ambitions.
Beyond the Tweet: X’s Growing Payment Infrastructure
While the tweet ignited speculation, a more significant development might be happening behind the scenes at X. Last week, X Payments, a subsidiary of X, secured a Money Transmitter License in its 29th U.S. state. This brings X closer to becoming a major player in online payments.
These licenses allow X to transfer funds within these states, but processing payments requires additional licenses. Despite this, X has repeatedly announced plans to launch internal payments on its platform by the end of 2024.
The Evolving Landscape of X Payments
X has already taken preliminary steps towards integrating cryptocurrencies into its platform. In 2021, under former CEO Jack Dorsey, X enabled users to tip content creators with Bitcoin (BTC). This feature was expanded in 2022 with the addition of Ethereum (ETH) tipping.
Following his acquisition of Twitter and its subsequent rebranding as X in 2023, Musk introduced a subscription model allowing creators to receive monthly payments from their subscribers.
What Does the Future Hold for XRP and X Payments?
While the recent tweet sparked speculation, it’s too early to say definitively whether XRP will be integrated into X’s payment system. However, X’s growing payment infrastructure and its existing crypto tipping features suggest the platform is serious about entering the online payments space.
The next few months will be crucial. Will X launch internal payments by year’s end? And if so, which cryptocurrencies, if any, will be included? Only time will tell, but one thing is certain: the XRP community will be watching X’s every move with great interest.
