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The rollout of X Money, the payments and digital wallet feature inside X (formerly Twitter), has stirred speculation about why Elon Musk rarely discusses $XRP publicly.
$XRP community figure Chad Steingraber recently posted on X saying, “Now we know why Elon won’t talk about $XRP.”
His comment came as users began examining the structure behind the new X Money payments system and its banking partners.
Another community figure, Stedas, responded by suggesting the reason could be that X Money is built around traditional fiat infrastructure rather than cryptocurrency. The service operates using real U.S. dollars held by a regulated banking partner and insured by the U.S. Federal Deposit Insurance Corporation.
Key Points
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The ongoing launch of X Money has sparked speculation about why Elon Musk rarely discusses $XRP publicly.
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X Money relies on fiat banking rails, using U.S. dollars held by FDIC-insured Cross River Bank.
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$XRP supporters note Cross River previously explored Ripple technology for real-time cross-border payments.
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While X Money launches with fiat payments, many expect cryptocurrencies like Bitcoin or Dogecoin later.
X Money Enters Limited Beta
Earlier this month, X Money moved from internal testing to a limited external beta. Access was first offered through a charity auction with William Shatner, where winners received early invitations and a metal debit card.
The service functions as a built-in wallet on X (formerly Twitter). It allows users to store money, check balances, and send payments through posts, replies, or direct messages.
Creator earnings from ads, subscriptions, and tips will also be paid directly into X Money accounts. Specifically, this removes the need for third-party processors like Stripe.
Notably, X has partnered with Visa to enable instant transfers through Visa Direct, allowing users to move money to and from linked bank accounts.
Customer funds are held by Cross River Bank, an FDIC-insured bank that protects deposits up to $250,000.
Ripple Connection Fuels $XRP Speculation
Steingraber pointed out that Cross River Bank has historical ties to Ripple’s technology stack. In 2014, the bank announced plans to integrate the Ripple protocol for real-time international payments.
The initiative allowed Cross River to process instant cross-border transfers between the United States and Western Europe using technology from Ripple Labs.
At the time, Ripple co-founder Chris Larsen described the system as infrastructure that allows financial institutions to move value as easily as information moves online.
Because Cross River now supports X Money, some $XRP supporters believe the platform could connect to Ripple-based infrastructure behind the scenes.
However, it is unclear whether Cross River still works with Ripple today. The bank currently lists other crypto partners, such as Circle Internet Financial, Coinbase, Gemini, and Fireblocks, on its website, while Ripple is not mentioned.
Musk “Avoids” Talking About $XRP
Some supporters believe Elon Musk may be intentionally avoiding direct discussion of $XRP. Since X Money relies on regulated banking infrastructure and fiat payments, publicly linking it to a specific cryptocurrency could complicate its regulatory position.
Notably, the payments system is part of Musk’s plan to turn X into a “super app,” similar to WeChat, combining social media, payments, and commerce on one platform.
While the rollout focuses on U.S. dollar transactions, many expect X to add cryptocurrencies in future updates. Potential additions include Bitcoin and Dogecoin, both of which Musk has publicly discussed before.
Meanwhile, Musk has rarely spoken directly about $XRP. His first recorded public comment mentioning the asset came in October 2024, when he said cryptocurrencies, including $XRP, can help promote financial freedom. However, he stressed that the statement was neither an endorsement nor a rejection.