The incoming U.S. President Donald Trump is anticipated to serve as a positive catalyst for the cryptocurrency market, a perspective that seems to already be influencing local crypto businesses significantly. As President Trump prepares for his inauguration on January 20, Ripple Labs, a prominent financial firm known for its XRP Ledger and RLUSD stablecoin, reports a surge in local deals and hiring initiatives, attributing its growth to the promises made during Trump’s campaign.
CEO Brad Garlinghouse reflected this sentiment in a recent post, stating, “2025 is here, and the Trump bull market is real.” Garlinghouse underscored that the optimism felt in the industry is a direct response to the previous restrictions imposed by the SEC under Gary Gensler, which had hindered Ripple’s business operations in the U.S. for several years. He expressed excitement over the future, claiming that Ripple’s recent performance showcases the tangible impact of the “Trump effect” on the crypto sector.
“We signed more US deals in the last six weeks of 2024 (since the election) than the previous six MONTHS,” Garlinghouse noted, attributing this shift to the forthcoming administration’s priorities. This resurgence has also prompted Ripple to nearly exclusively hire from within the United States, a stark contrast to the company’s previous strategies of expanding operations offshore during the Biden administration. Currently, 75% of Ripple’s open positions are based in the U.S., signaling a renewed focus on domestic growth.
Moreover, Ripple has pledged a substantial donation of $5 million in XRP tokens to support Trump’s inauguration, further solidifying its commitment to aligning with the new political landscape. This financial backing, coupled with the speculative optimism amongst traders, suggests that a crypto-friendly Trump administration may present advantageous conditions for U.S.-based tokens such as XRP and Uniswap (UNI).
In fact, the performance of XRP has been noteworthy, seeing an impressive increase of over 300% since Trump’s election victory, outpacing the growth of other major cryptocurrencies significantly. Traders, including those from international markets, are also taking notice of this upward trend; XRP surged more than 11% last week, driven by trading volumes that reached $1.3 billion on the Korea-focused exchange, Upbit.
Historically, heightened trading volumes for XRP, particularly from South Korean exchanges, have been indicative of price volatility that tends to favor an upward trajectory. As the cryptocurrency landscape continues to evolve with the incoming Trump administration, the future remains bright for Ripple and similar firms eagerly anticipating favorable regulatory conditions.
As of Monday, XRP was trading just above $2.40, reflecting a steady position within the broader crypto market. With anticipation building around the changing political climate and potential shifts in regulatory approaches, both firms and traders are keenly monitoring the developments that could shape the future of the cryptocurrency market in the United States.
