Per The Athletic's Nick Kosmider and Shams Charania, Murray is expected to miss "multiple games" after his tests came back clean.
Murray left in the second quarter after rolling his ankle while defending Terry Rozier.
Head coach Michael Malone told reporters following the game that he thought Murray's X-rays came back negative but that Murray's ankle looked "rather large which is kind of scary."
Ankle issues have been a problem for Murray dating back to the 2018-19 campaign. He missed six games from Jan. 26-Feb. 4 last year due to a sprained ankle.
While preparing to play for Canada in the FIBA World Cup, Murray announced he was withdrawing from the event due to an ankle injury he suffered during practice.
Denver bet big on Murray over the summer, giving him a five-year max extension worth $170 million. The 22-year-old is averaging 17.6 points and 4.6 assists per game. He ranks second on the team in both categories, behind Nikola Jokic.
The Nuggets (28-12), who are tied atop the Northwest Division with the Utah Jazz, have plenty of depth to get by in Murray's absence. PJ Dozier had 12 points off the bench against the Hornets after taking over for Murray.