Some people claimed that Ripple executives have been in talks with Tesla CEO Elon Musk & which may derive the trade price of $XRP coin to $600.
Ripple is a San Francisco headquartered blockchain firm Ripple, known for cross-border payment services powered by $XRP Cryptocurrency, a Proof-of-stake (PoS) blockchain network. Since 2020, this company has been fighting against the United States Securities and Exchange Commission (SEC) for its business activities around $XRP coin.
On 27 Jan 2025, Ripple firm secured Money Transmitter Licenses in New York and Texas. With this regulatory approval, this fintech firm secured more than 55 money transfer licenses in the USA.
Ripple firm stated that the latest development would help the company to onboard new customers, as well as the company will hire new talents in the US.
-----Cryptonews AD----->>>
Sign up for a Bybit account and claim exclusive rewards from the Bybit referral program! Plus, claim up to 6,045 USDT bonus at . https://www.bybit.com/invite?ref=PAR8BE
<<<-----Cryptonews AD-----
With more than 60 money transfer licenses, Ripple is among the top payment companies that provide cross-border settlement seamlessly.
Ripple & Elon Musk partnership regarding $XRP: Not True, But Not False
Over the last 24 hours, some reports started speculating in the crypto community regarding a new partnership between Ripple & world’s richest person Elon Musk. XRP lovers said that if it happens, then it will derive $XRP to $600 price level.
However, a detailed investigation by the Bitcoinik.com team found that there are no such collaboration plans & and Elon Musk didn’t talk about Ripple or the $XRP coin.
A few months ago, the Tesla CEO talked about $XRP during a town hall meeting in Pittsburgh, discussing the role of cryptocurrencies in general, in response to a question which was trying to force Musk to share his views on the $XRP coin. At the time, the Tesla CEO suggested people not consider his statement an endorsement or criticism against any Cryptocurrency.
The collaboration rumour is basically indirectly related to Musk. Indeed, the San Francisco headquartered blockchain firm has officially collaborated with Jared Isaacman, a partner of Elon Musk at SpaceX, for a donations project with XRP for the Maui Emergency Response Fund. So we should not consider this collaboration as a direct partnership with Musk.
Read also: Microstrategy ($MSTR) purchases 10k+ BTC & announces to raise more funds to increase Bitcoin holding
