TLDR:
- Ripple CEO Brad Garlinghouse reports a surge in US deals following Trump’s election victory, with more deals signed in the last 6 weeks of 2024 than in the previous 6 months
- The company has focused on recruiting in the US, with 75% of open positions now in the US
- Ripple has pledged $5 million in XRP tokens for Trump’s inauguration
- XRP Prices Rise Over 300% Since Trump’s Election Victory
- Trading volume has grown significantly, particularly on Korea’s Upbit exchange, with recent activity of $1.3 billion
Ripple Labs, a leading cryptocurrency finance company, has reported a dramatic increase in its business activities in the US following the election victory of Donald Trump.
A company known for its payment solutions and RLUSD stablecoin in the XRP Ledger, has seen a notable turnaround in local business and employmentwith preparations for the incoming Trump administration.
CEO Brad Garlinghouse announced on social media platform X that the company has seen tremendous growth in its US business since the November election. “We signed more deals in the US in the last six weeks of 2024 than in the previous six MONTHS,” Garlinghouse said, attributing the growth to what he calls the “Trump effect”.
2025 is here and the Trump bull market is real. For Ripple, this is even more personal after Gensler’s SEC effectively froze our business opportunities here at home for several years. The optimism is obvious and well deserved.
Today:
✅75% of Ripple’s open deposits are now in the US, while…— Brad Garlinghouse (@bgarlinghouse) January 5, 2025
The company’s strategic pivot toward the U.S. market represents a marked shift from the previous focus on international expansion during the Biden administration. This change is reflected in Ripple’s current hiring practices, with 75% of open positions now located in the United States.
In a show of support for the incoming administration, Ripple announced a donation of $5 million in XRP tokens to Trump’s inauguration efforts. The move aligns with the company’s renewed focus on strengthening its presence in the US market.
The market reacted positively to this development, with the price of XRP increasing by more than 300% since Trump’s election victory. This growth rate outpaced other major cryptocurrencies during the same period.
XRP trading activity has seen a huge surge, especially in Asian markets. Korea’s Upbit exchange recently recorded $1.3 billion in trading volume, indicating strong international interest in the token.
The increase in trading volume on South Korean exchanges is particularly noteworthy, as historically this has often preceded periods of increased price volatility for XRP, which have typically been bullish.
Garlinghouse’s comments referenced the company’s previous challenges with the SEC under Gary Gensler, which he argued limited Ripple’s domestic business opportunities. The CEO expressed optimism about the changing regulatory landscape under the incoming administration.
The latest price data shows XRP trading at around $2.40 during Monday trading hours in Asia, maintaining steady levels alongside the broader cryptocurrency market.
The company’s refocus on U.S. operations marks a departure from its previous offshore expansion strategy during the Biden administration. This shift appears to be due to the optimism surrounding the incoming administration’s proposed policies.
Market analysts have seen traders speculating on possible benefits for US-based crypto companies under the Trump administration, particularly those like Ripple Labs and Uniswap, which are more involved in creating value for token holders.
The increase in U.S. deals is part of a broader trend of cryptocurrency companies reassessing their positions in the U.S. market. Ripple’s experience points to a changing business environment for crypto companies in the United States.
Trading patterns show that international investors are taking note of these developments, with particularly strong interest coming from Asian markets. High trading volumes on Korean exchanges indicate growing global attention to Ripple’s US-centric strategy.
Market data shows that XRP’s price performance has remained relatively stable in recent trading sessions, despite the significant increase seen following the election results.
The company continues to expand its presence in the US with an increased focus on recruitment and business development, reflecting its commitment to growth in the US market.
