Elon Musk’s X has begun rolling out X Money to select Premium+ users, with the new payments service relying on Ripple’s banking partner Cross River Bank for its core banking infrastructure.
summary
- X Money has begun rolling out to select Premium+ users with Cross River Bank as its banking partner.
- Ripple’s long-standing Cross River partnership has sparked speculation about the possibility of XRP integration in the future.
- XRP traders are monitoring the support level at $1.06 as futures open interest declines ahead of market volatility.
According to X announcements, the initial release offers a digital wallet and payment service that allows eligible Premium+ users to send peer-to-peer payments, access a Visa debit card, and earn a return on cash balances through the platform. The company launched the service using traditional banking infrastructure instead of cryptocurrency.
Cross River Bank serves as the primary banking partner behind X Money. The FDIC member bank holds customer deposits and supports payment processing, card issuance, and the X Cash Sweep program, which provides up to $10 million in FDIC insurance for eligible balances.
The bank has worked with Ripple since 2014 and previously adopted XRP Ledger technology for some cross-border payment services, attracting the attention of the cryptocurrency community after the launch of X Money.
X Money currently operates on traditional banking routes
Given Cross River’s current relationship with Ripple, some XRP supporters have speculated that future versions of X Money could eventually include blockchain-based payment infrastructure.
Many users within the XRP community have suggested that the partnership could create opportunities for faster settlements, cross-border transfers, or stablecoin services if X later expands beyond fiat payments.
Neither X nor Cross River Bank have announced any plans to integrate XRP or other cryptocurrencies into X Money. The service currently works through traditional banking systems, though Elon Musk previously said Indicating Crypto features could eventually become part of the platform’s financial services.
The rollout also comes shortly after X expanded its Smart Cashtags feature. Users can now view larger real-time charts of cryptocurrencies and stocks, including Bitcoin, Ether, XRP, HYPE, Dogecoin, Tesla, Strategy, and Coinbase directly within the platform.
Meanwhile, Ripple has continued to strengthen its payment infrastructure and regulatory efforts in the United States I mentioned Earlier through crypto.news, the company recently deployed a mobile advertising truck around the US Capitol, urging lawmakers to pass the CLARITY Act. Ripple stated that the proposed legislation would establish clearer rules for digital assets, strengthen consumer protections, encourage responsible innovation, and help the United States remain competitive in the digital assets industry.
XRP traders are monitoring key technical support
Along with the interest surrounding X Money, XRP has recovered modestly following the recent sell-off in the cryptocurrency market. At press time, the token was trading at around $1.04 after moving between $1.01 and $1.08 over the past 24 hours.
According to According to analyst Ali Martinez, XRP is testing a high-volume range near $1.06. Martinez cited UTXO-verified price distribution data showing that over 830 million XRP had previously traded around this level, making it an important support area. He added that if the token drops below that area, the next important support levels based on volume are located near $0.80, $0.62, and $0.51.
Separately, CoinGlass data showed that derivatives traders remained cautious about the latest Crypto options expire. Total open interest in XRP futures fell 2% to approximately $2.35 billion over the past four hours, indicating that some leveraged positions were closed as volatility continued across the broader cryptocurrency market.
