The cryptocurrency world has once again been shaken by rumors involving Ripple and Circle, two significant players in the digital asset and blockchain space.
This time, the rumor centers around Ripple potentially offering a staggering $20 billion to acquire Circle, the issuer of the USDC stablecoin. However, the XRP community, often referred to as the “XRP army,” is not buying into these claims, which have spread rapidly across social media without any solid evidence backing them up.
The rumors first gained traction on the X platform, where influencers and crypto media outlets quickly jumped on the story.
According to the claims, Ripple allegedly raised its offer for Circle from $5 billion to $20 billion, with the deal already being finalized. However, the XRP community has quickly dismissed the reports, accusing those who spread the rumors of irresponsibly promoting unsubstantiated claims. The fact that the account that initially shared this information appeared questionable, coupled with the false attribution to Fox News, only fueled the doubts surrounding the legitimacy of the rumor.
One of the most vocal critics of the rumor is Dom Kwok, the co-founder of EasyA, a platform for simplifying cryptocurrency education.
Kwok has gone on record to express that there is “no way” Ripple would offer such a massive sum for Circle. His skepticism is rooted in the fact that Circle, which has a market capitalization of over $61 billion, filed for an initial public offering (IPO) in March, seeking to raise $5 billion. For Ripple to offer $20 billion, especially without any formal statement, would be an unlikely move, according to Kwok.
The origins of the rumor appear to stem from a post made on April 30, which claimed that Ripple had upped its offer for Circle to $20 billion and that the deal was already final.
The account behind the claim falsely linked the story to Fox News, though there were no reports from the network to confirm the story. The XRP community, always cautious of rumors, quickly dismissed this as misinformation, pointing out the lack of credible sources and the implausibility of the deal.
While the $20 billion figure remains unsupported, there is some truth to the idea that Ripple has shown interest in acquiring Circle.
As previously reported by Bloomberg, Ripple did make a $5 billion offer to acquire Circle, though that offer was ultimately rejected. Circle is the second-largest player in the stablecoin market, with USDC being widely used for trading and as a store of value. The company generates significant revenue from the interest earned on the reserves that back the stablecoin. In contrast, Ripple entered the stablecoin market in 2024 with the debut of its own stablecoin, Ripple USD (RLUSD). This development put the two companies into direct competition, especially when it comes to cross-border payments and stablecoin usage.
Although Ripple’s interest in Circle is well-documented, the idea that the company has raised its offer to $20 billion is a stretch.
It is more likely that the rumor is a case of misinformation or sensationalism. The original Bloomberg report made it clear that Ripple had expressed uncertainty about making another offer, though it didn’t rule out the possibility. The lack of confirmation from any reputable source suggests that the rumor is nothing more than speculative gossip.
The XRP community’s reaction to these rumors is not without precedent.
In the past, similar unverified claims have caused a stir in the XRP ecosystem. Just days ago, the price of XRP saw a significant spike after rumors of ProShares receiving approval to debut an XRP exchange-traded fund (ETF). However, as of now, there is no official confirmation regarding the debut of such products, raising doubts about the validity of the claims.
The situation underscores the importance of verifying information in the cryptocurrency space, where rumors and speculation can quickly move markets and influence investor sentiment.
The XRP army has always been vocal about the need for transparency and factual reporting, and this latest incident is no different. Members of the community have called for more responsible journalism and urged investors to be cautious when encountering unverified news.
As for Ripple and Circle, it remains to be seen if the two companies will engage in further talks or if Ripple will consider making another offer in the future.
What is clear, however, is that the XRP community will not be swayed by unfounded rumors and will continue to push for clarity and transparency in the crypto space.
In conclusion, while Ripple’s interest in Circle may not be entirely far-fetched, the claim that Ripple has upped its offer to $20 billion is nothing more than a baseless rumor.
The XRP army has made it clear that it is not buying into this speculation and will wait for official declarations from Ripple or Circle before drawing any conclusions. Until then, the community remains cautious and focused on supporting projects that bring real value to the blockchain and cryptocurrency industries.
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