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- Ripple CEO credits Trump’s pro-crypto policies for boosting XRP by 370%, accelerating U.S. hires, and advancing Ripple’s stablecoin RLUSD.
- Legal optimism under potential SEC leadership change may unlock XRP’s full potential amid Ripple’s ongoing global growth.
Donald Trump recently received credit from Ripple CEO Brad Garlinghouse for his presidency’s positive impact on revitalizing the company’s operations in the U.S. As anticipated in a CNF highlight, Garlinghouse predicted that Trump’s presidency could transform cryptocurrency regulation, offering new hope for blockchain innovation in the United States.
Furthermroe, Garlinghouse in his recent tweet on X, revealed that 75% of Ripple’s new hires are now based in the United States—a sharp contrast to previous years when most roles were filled internationally, according to a report on Economic Times.
XRP has surged an astonishing 370% since Donald Trump’s U.S. election win, far outpacing other major cryptocurrencies. Despite Ripple’s focus on global payments, 95% of its business occurs outside the U.S. Ripple’s substantial holdings of XRP have raised concerns with regulators over the years.
This shift aligns with what Garlinghouse described as the “Trump bull market,” fueled by the former president’s pro-crypto stance. Ripple also secured more U.S.-based deals in the final six weeks of 2024 than in the preceding half-year, marking significant momentum.
The Ripple Effect of Pro-Crypto Policies
Garlinghouse praised the Trump administration for prioritizing innovation and fostering job growth in the crypto space, with influential figures like Scott Bessent and David Sacks playing leading roles.
This support accelerated Ripple’s success, highlighted by the launch of its stablecoin, RLUSD, which has already outperformed rivals in trading volume. The so-called “Trump effect” energized Ripple’s business and reignited optimism for the broader crypto market, particularly XRP.
XRP’s Path to Recovery
The “Trump bull market,” as Garlinghouse coined it, offers a renewed outlook for XRP, especially with Paul Atkins poised to lead the SEC under Trump’s administration. Ripple’s prolonged legal battles with the SEC, led by the crypto-critical Gary Gensler, had stalled XRP’s growth during the 2021 bull run.
Edul Patel, CEO of Mudrex, stressed out,
XRP has risen close to 300% in just a month, driven by growing interest in banking tokens. The recent approval of Ripple’s stablecoin—RLUSD—provided another boost to XRP’s price, pushing it over the $2 mark.
With a potential policy shift under Atkins, optimism is mounting for a resolution to Ripple’s lawsuit—a scenario that could unlock XRP’s suppressed potential and signal a turning point for the crypto. According to a CNF update, XRP surged 370% after Trump’s election win, outperforming Bitcoin and the broader crypto market.
At the time of writing, according to CoinMarketCap data, Ripple (XRP) is trading at $2.39, showing a 0.04% decrease in the past day and an 11.68% increase over the past week.
