Ripple’s Alderoty, they will have dinner with President-elect Donald Trump.
“Great dinner last night…Strong start to 2025,” Garlinghouse wrote on X alongside a photo of him and Alderoty with Trump.
The token is up about 2% in the past 24 hours, versus declines of about 2.5% for bitcoin and the broader CoinDesk 20 index. Since Trump’s victory, it has skyrocketed over 300%, easily surpassing all other major cryptocurrencies. Another big election beneficiary, dogecoin (DOGE), for example, has “only” almost doubled.
Cryptocurrency investors are looking for new developments to “drive the upside,” said Aurelie Barthere, senior research analyst at Nansen. This would include news that U.S. inflation and labor markets are cooling, or directions on future policies from the Trump administration. However, until there is more clarity, expect markets to be choppy.
“We expect continued weakening in the US labor market which should cap US rates and help cryptocurrencies, including the price of XRP, which is participating in the same movement. […] “The Ripple CEO meeting with Trump before his inauguration is definitely a bullish sign,” according to Barthere.
A potential American company, RLUSD, received regulatory approval in December. Earlier on Wednesday, the stablecoin was listed on the Bitstamp crypto exchange.
“We are seeing a trend of buying XRP from our franchise this week, mainly from retail brokers and crypto-native funds,” said Zahreddine Touag, head of operations at Paris-based market maker Woorton. “This could be due to the positive news coming out of the Ripple foundation lately, namely the possible listing of the XRP ETF and the launch of the RLUSD stablecoin.”
