Incoming US President Donald Trump is expected to be a positive catalyst for the cryptocurrency market, but his promises are already boosting business for local cryptocurrency companies.
Financial firm Ripple Labs, which offers payment lanes and the RLUSD stablecoin using the XRP Ledger, reports an increase in local deals and hiring efforts ahead of Trump’s inauguration on January 20, attributing the growth to campaign promises of the next administration.
“2025 is here and the Trump bull market is real,” CEO Brad Garlinghouse said in an X post Sunday night. “For Ripple, this is even more personal after Gensler’s SEC effectively froze our trading opportunities here at home for years. The optimism is evident and well deserved.”
“We signed more agreements with the United States in the last six weeks of 2024 (since the elections) than in the previous six MONTHS. Say what you want, but the “Trump effect” is already making cryptocurrencies big again, through his campaign and in the Administration’s first day priorities,” he added.
2025 is here and the Trump bull market is real. For Ripple, this is even more personal after Gensler’s SEC effectively froze our trading opportunities here at home for years. The optimism is evident and well deserved.
Today:
✅75% of Ripple’s open positions are now based in the US, while…—Brad Garlinghouse (@bgarlinghouse) January 5, 2025
Garlinghouse added that the company now hires almost exclusively in the United States, which represents a change from the company’s expansion abroad during the previous Joe Biden administration.
Ripple now has 75% of its roles open in the US, Garlinghouse said. As such, the company is also donating to Trump’s upcoming inauguration and has pledged $5 million in XRP tokens to the effort.
Since November, the speculative optimism among traders has been that a crypto-friendly Trump administration could benefit tokens tied to US-based companies, such as Ripple Labs (related to XRP) and Uniswap (UNI), already that companies are more involved in driving value for token holders.
XRP prices have risen more than 300% since Trump’s victory, outpacing the growth of all other major cryptocurrencies, primarily in the American narrative.
Merchants from other countries are also joining in. Last week,
A CoinDesk analysis previously noted unusually high trading volumes for XRP coming from South Korean exchanges, which have historically acted as a harbinger of price volatility with a bullish bias.
XRP was trading just above $2.40 during Asian afternoon hours on Monday, with little change over the past 24 hours along with the broader market.
