According to social media buzz, the growing clash between Elon Musk and US President Donald Trump has sent ripples through the crypto world. Musk’s public swipe at a recent spending bill kicked things off, followed by Trump’s warning to yank Musk’s government contracts. It quickly became messy, and now some believe XRP could come out on top.
Musk took to Twitter on June 4 to slam what he called reckless government spending, warning of “serious economic risks.” Not long after, Trump fired back, threatening to pull subsidies and contracts tied to Tesla. That response sent Tesla’s stock tumbling, with investors watching $150 billion in market value vanish in a matter of hours.
Based on reports, Bitcoin slid more than 5% following the news, dropping to a low of $100,550 before finding a bit of footing near $102,400. XRP wasn’t spared either, falling alongside other major coins, though the exact drop varied across exchanges. Traders saw quick declines, then a modest rebound as the dust settled.
Joshua Dalton, who founded tech services firm TRIBLU, stirred the pot with a bold claim, suggesting Musk might choose XRP as the main currency for X’s upcoming payment system, X Money. He argued that Musk “will do anything” to make XRP the go-to token, framing the drama as a showdown of crypto loyalties.
XRP provides quicker settlement and reduced fees than Bitcoin. In 2021, Musk suspended BTC payments for Tesla due to high energy consumption and centralized mining concerns, proving he’s not afraid to change course when a coin isn’t aligned with his objectives.
With X Money scheduled to roll out later in 2025, XRP’s architecture for cross-border transfers could mirror what Musk is looking to create. However, some analysts point out real hurdles, noting that Ripple still holds a large chunk of XRP and that US regulators are watching closely. Any significant move would need legal green lights and deep liquidity on exchanges. Yet, the idea of an “everything app” powered by XRP keeps popping up in crypto chats.
