By Key Points
- Ripple CTO changed his profile picture to a PHNIX NFT
- PHNIX token price surged nearly 40% following the move
- The action mirrors Elon Musk’s meme coin influence
- Analysts warn hype may fade without strong fundamentals
The Ripple CTO, David Schwartz, has once again proven how powerful subtle actions can be in the crypto world.
Over the weekend, Schwartz changed his X (formerly Twitter) profile picture to a PHNIX NFT, a move that instantly set the market buzzing. Within hours, PHNIX, a meme coin built on the XRP Ledger, jumped nearly 40%, attracting waves of new interest and liquidity.
This isn’t the first time crypto markets have reacted so quickly to changes in social media. But what sets this apart is the personality behind the action.
Unlike Elon Musk, who has a history of meme coin antics, the Ripple CTO is typically reserved and technical. This sudden dive into meme culture was unexpected, and that’s what made it go viral.
“The Phoenix rises higher today. Thank you, Joel Katz, for embracing the vision. From ashes to eternity, $PHNIX lives on XRPL,” tweeted the official Phoenix account.
The Phoenix rises higher today.
Thank you @JoelKatz for embracing the vision.
From ashes to eternity, $PHNIX lives on XRPL. 🕊🔥$XRP pic.twitter.com/CZ0Sqw4153
— Phoenix – $PHNIX (@phnix_xrp) September 7, 2025
At the time of writing, the PHNIX token is trading at $0.00002264, backed by a sharp rise in trading volume and on-chain activity. CoinGecko data confirms a huge spike in liquidity as traders rushed to capitalize on the hype.
These types of sudden pumps can sometimes raise red flags, similar to what was seen during the MYX Finance surge that sparked fears of a pump-and-dump scheme.
Phoenix (PHNIX) Price Performance. Source: CoinGecko – Techtoken
The Meme Coin Effect Enters XRP Ledger
This price action mirrors the influence seen in past cases involving Elon Musk. When Musk briefly changed his profile picture to reference Dogecoin, DOGE jumped 20%. Another time, he renamed himself “Harry Bōlz,” and the related token surged over 3,000%.
A similar effect occurred in May when KEKIUS, another meme token, soared 120% after Musk integrated it into his profile branding.
Elon Musk has changed his Profile name to “Harry Bōlz”
In the immediate aftermath of this name change, the price of #HARRYBOLZ rallied by over 3,000% before profit booking commenced.
This marks the second time Musk’s name change led to a crypto rally, following similar… pic.twitter.com/RiuntVwGKj
— BeInCrypto (@beincrypto) February 11, 2025
By joining this trend, the Ripple CTO has unintentionally imported that same speculative energy into the XRP Ledger ecosystem. And now, PHNIX is being treated as the first meme coin of XRPL to receive mainstream attention thanks to a high-profile figure.
Still, industry watchers are skeptical.
“It’s a fascinating moment, but we’ve seen how short-lived these rallies can be,” said blockchain strategist Ava Chen. “Without follow-through or real development, hype burns out quickly.”
JUST IN: David Schwartz, CTO of Ripple, changes X pfp to $PHNIX NFT. pic.twitter.com/GIC4hvSscW
— Whale Insider (@WhaleInsider) September 7, 2025
Despite this, meme coins are playing a growing role in crypto’s culture. Tron founder Justin Sun, during Token2049, commented:
“Meme coins may seem unconventional, but they highlight the power of community in crypto.”
Meme coins may seem unconventional, but they highlight the power of community in crypto. Building a successful project, meme-based or not, takes dedication.
Let’s see what the next bull cycle brings! 👀 pic.twitter.com/S40tXLhSO3
— H.E. Justin Sun 👨🚀 (Astronaut Version) (@justinsuntron) May 1, 2024
Sun has been in the headlines himself recently over the WLFI token freeze, which shows just how impactful key figures can be in moving both price and sentiment.
That community aspect is what gives meme coins like PHNIX their spark — and the Ripple CTO’s unexpected involvement has added a serious dose of credibility and curiosity.
Can PHNIX Sustain Momentum Without Ripple CTO’s Continued Support?
The real test for PHNIX begins now. The price may be up nearly 40%, but crypto history shows us that unless something substantial follows, like new utility, a roadmap, or partnerships the euphoria fades.
So far, the Ripple CTO has not made any direct statement about the profile picture change. Was it a silent end, orsement? A casual show of interest? Or just a fun moment in an otherwise serious profile? That silence is only adding to the speculation.
For now, retail traders are buying into the hope that this move was more than a one-off. But unless PHNIX developers take advantage of this attention to build something lasting, the token risks falling back into obscurity, just like many meme coins before it.
Other ecosystems, like Tempo Blockchain, are focusing on long-term infrastructure and real-world integration, something meme coins like PHNIX may struggle to replicate without a clear vision.
But there’s a twist.
PHNIX isn’t just a meme coin, it’s tied to a collection of NFTs on the XRP Ledger, which could allow the project to extend its reach beyond trading and into digital identity, gaming, or Web3 art.
If developers act fast, and if the Ripple CTO maintains even passive engagement, it might be enough to turn this moment into momentum.
And it’s all happening while major market players like Bitcoin push toward the $113K mark and Michael Saylor’s Bitcoin empire faces mounting debt risk, signaling that both meme culture and institutional narratives are shaping crypto in real time.
Either way, what’s clear is that Ripple CTO David Schwartz has officially, whether intentionally or not, entered the meme coin game. And for PHNIX, that means the spotlight is on.
What is your reaction?
