Ripple Labs is shifting its attention to the U.S. market, capitalizing on what is being called the “Trump effect,” which many believe is making the U.S. crypto market more favorable. With Donald Trump set to take office, crypto firms in the U.S. are already seeing positive momentum ahead of his inauguration.
Ripple, a financial technology company that offers payment solutions and the RLUSD stablecoin via the XRP Ledger, has reported a notable increase in U.S. deals and hiring activities in the lead-up to Trump’s inauguration on January 20. The company attributes this growth to the promises made by the incoming administration, which it expects will create a more crypto-friendly regulatory environment.
Ripple CEO Brad Garlinghouse posted on X, saying, “2025 is here and the Trump bull market is real. For Ripple, this is especially important after the SEC, under Gensler, effectively froze our business opportunities in the U.S. for years. The optimism is real, and it’s well-deserved.”
Garlinghouse highlighted that Ripple has signed more U.S. deals in the last six weeks of 2024—since the election—than in the previous six months combined. He stated that the “Trump effect” is already benefiting the industry, with the incoming administration’s campaign promises and focus on crypto policy playing a major role.
The company has also shifted its hiring strategy, now focusing predominantly on U.S. talent, which marks a reversal from its earlier focus on overseas expansion during the Biden administration. According to Garlinghouse, 75% of Ripple’s current job openings are now based in the U.S. Ripple is also supporting Trump’s inauguration with a $5 million donation in XRP tokens.
The belief that a pro-crypto Trump administration could favor U.S.-based firms like Ripple (associated with XRP) and Uniswap (UNI) has created growing optimism among traders. These companies, which are focused on enhancing value for token holders, stand to benefit from the anticipated regulatory changes.
Since Trump’s election win, XRP has surged by over 300%, significantly outperforming other major cryptocurrencies, largely due to the positive U.S. market outlook.
XRP’s momentum continues to build, with a more than 11% surge last week, driven by $1.3 billion in trading volume on South Korea’s Upbit exchange. Historically, spikes in trading volumes on South Korean exchanges have preceded price volatility, typically pushing prices higher.
As of Monday afternoon in Asia, XRP was trading just above $2.40, remaining mostly unchanged over the past 24 hours, in line with the broader cryptocurrency market.
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