Phnix, a token built on top of the XRP ledger and associated NFT, has increased by almost 40% to the Phnix NFT after Ripple (Twitter) profile photo.
The move reflects the token's response as Doge's father flips a photo of his profits into a specific meme coin.
Ripple CTO causes Phnix Frenzy with profile photo shift, with token rising by 40%
The move has led traders to a frenzied comparison, comparing them to Elon Musk's history, which triggers meme coin rally, through subtle social media adjustments.
“Phoenix is rising high today. Thank you Joel Katz, for accepting vision. From ashes to eternity, $phnix lives in XRPL,” the official Phoenix account wrote.
Shortly after, Phnix Token rose nearly 40% to trade at $0.00002264 at the time of this writing.
Phoenix price performance. Source: Coingecko
Larry reflects past episodes tied to Elon Musk. In 2021, Dogecoin jumped 20% after Musk temporarily changed his X profile picture to refer to Doge Meme Coin.
Earlier this year, his decision to change his profile to “Harry Boltz” sparked a 3,000% rally with related tokens.
Elon Musk has changed his profile name to “Harry Boltz.”
Shortly after this name change, the price of #Harrybolz increased by more than 3,000% before profit booking began.
This is the second mark that the mask's name change led to a crypto assembly.
– Beincrypto (@beincrypto) February 11, 2025
Similarly, Kekius rose 120% in May after Musk adopted it as part of his X branding. Therefore, Schwartz's movement brings the same speculative energy to the XRP ecosystem.
Unlike Musk, however, Ripple CTO is not known for the antics of Memecoin, making its support even more surprising.
Just In: David Schwartz, CTO of Ripple, changes x PFP to $phnix nft. pic.twitter.com/gic4hvsscw
– Whale Insider (@WhaleInsider) September 7, 2025
Phnix Surge highlights the impact of the well-known cryptography on market psychology.
Schwartz did not comment on whether changes to his profile were intended as approval, but the effect was immediate. Coingecko's data highlights Phnix's liquidity and trading volume, which has surged for retailers to buy quickly.
This phenomenon suggests a broader theme in the crypto market. There, the meme coin becomes a shilling point of speculative liquidity.
“The meme coin may seem unconventional, but it highlights the power of the crypto community,” Justin Sun, founder of Tron and Hobi's global advisor, said at Token2049.
Personality-driven behavior, memes, and cultural signals often obscur the fundamentals in the short term.
Nevertheless, musk-related gatherings have historically flare up after the initial sense of well-being, often leaving the latte secoma exposed. This suggests that Phnix prices could suffer from similar patterns unless a subsequent basic event or announcement is presented.
Post Ripple CTO took part in Meme Coin Effect and first appeared on Phnix's 40% price rally in Refueling Beincrypto.
