Ripple Labs is increasingly focusing on the U.S. market, leveraging the so-called “Trump effect,” which is believed to be creating a more favorable environment for cryptocurrencies in the U.S. As Donald Trump prepares to take office, U.S.-based crypto firms are already experiencing growth, anticipating a shift in policies that could benefit the industry.
Ripple, known for its payment solutions and the RLUSD stablecoin on the XRP Ledger, is seeing an uptick in U.S. deals and hiring efforts as Trump’s inauguration on January 20 approaches. The company credits this growth to the incoming administration’s promises, which it expects to lead to more crypto-friendly regulations.
Ripple’s CEO, Brad Garlinghouse, shared his thoughts on X, stating, “2025 has arrived, and the Trump bull market is real. For Ripple, this is especially meaningful after the SEC, under Gensler, froze our U.S. business for years. The optimism is tangible, and it’s very much deserved.”
Garlinghouse further revealed that Ripple has secured more U.S. deals in the final six weeks of 2024—since the election—than in the preceding six months. He emphasized that the “Trump effect” is already benefiting the crypto market, thanks to the administration’s focus on crypto policies and campaign promises.
Ripple has also changed its hiring focus, now concentrating almost entirely on U.S. positions, a shift from the international expansion it pursued during the previous Biden administration. According to Garlinghouse, 75% of Ripple’s open roles are now in the U.S. The company has also pledged $5 million in XRP tokens to support Trump’s upcoming inauguration.
The expectation that a pro-crypto Trump administration could help U.S.-based firms like Ripple (associated with XRP) and Uniswap (UNI) has led to growing optimism. These companies, more involved in creating value for token holders, are seen as benefiting from the potential regulatory shifts.
Since Trump’s victory, XRP has surged by over 300%, outpacing other major cryptocurrencies, with much of the growth attributed to the favorable U.S. market narrative.
XRP continues its upward momentum, with an 11% rise last week, fueled by $1.3 billion in trading volume on Upbit, a South Korean exchange. Historically, increased trading volumes on South Korean platforms have been an indicator of potential price volatility, often skewing positively.
As of Monday afternoon in Asia, XRP was trading just above $2.40, remaining largely unchanged over the past 24 hours, in line with broader market trends.
