Elon Musk has been flirting with the idea of integrating blockchain technology and crypto payments into X since he took over the social media platform.
Elon Musk has shown interest in integrating blockchain technology and crypto payments into X since he took over the social media platform. He has suggested that Dogecoin could be first in line for X payments, and his other company, Tesla, has previously invested in Bitcoin.
However, according to one market expert, it would be a smart move for Elon if he integrated XRP and the XRP Ledger into X.
The first reason XRP is the best option is the low fees, says Mason Versluis, the founder of trading resources platform Paytience Indicators and Gold Squad, a crypto transformation community.
Why Elon Musk Should Partner With $XRP pic.twitter.com/FucZR4yUbL
— MASON VERSLUIS (@MasonVersluis) September 10, 2024
Mason noted that it costs pennies to send XRP, which makes it a much better option for a mass-market application where microtransactions would be the norm. This would allow X users to even send cents, which is not possible on Ethereum,
Microtransactions could be a godsend for Twitter. Musk has been working to position the platform as more than just a social media platform, expanding into video and written content. Today, thousands of creators make content specifically for X, including newsletters, podcasts, and videos. Tucker Carlson is one of the best examples of this shift; last year, he launched a show exclusively on X, with Musk among his first interviewees.
With microtransactions, more content creators could be empowered to make content for which users can pay micropayments. For instance, you could pay 50 cents worth of XRP to access an article by the New York Times on X or to watch a video from your favorite content creator.
This would only be possible if the crypto in use has extremely low fees, ruling out the likes of Bitcoin and Ethereum.
XRP is the Best Bet for X
Mason also believes that X and XRP just fit perfectly as a brand. He added that Musk’s original plan with X was to change traditional banking, which aligns with XRP’s vision as well.
Moreover, X seeks to remove the boundaries by being the global town hall, which again aligns with XRP’s vision of connecting the world via a cheap payment rail, Mason added.
If X wants to be this global connector platform, it only makes sense to go with the cryptocurrency that has put itself forth as the global bridge currency.
Mason acknowledged that a lot of what XRP would bring to X isn’t unique to the crypto. Several other cryptocurrencies could also offer low fees for X users, including Dogecoin, Musk’s favourite coin.
Meanwhile, XRP trades at $0.5616, gaining 4.3% in the past day, the highest jump in the top 20 cryptos.
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