Key Highlights
- 75% of Ripple’s open roles are now US-based, signaling a shift back to the US market.
- Ripple has signed more US deals in the last six weeks than in the past six months.
- The “Trump bull market” is boosting optimism in the crypto industry.
Trump’s Influence on Ripple
Brad Garlinghouse, Ripple’s CEO, has attributed a significant part of Ripple’s recent progress to Donald Trump’s election victory. With a pro-crypto stance, Trump’s administration seems to be laying the groundwork for innovation and growth in the blockchain industry.
Garlinghouse noted that most of Ripple’s hiring over the past four years was focused outside the US due to regulatory challenges. However, since Trump’s win in November, 75% of Ripple’s open positions are now US-based. The company has also closed more US-based deals in the last six weeks of 2024 than in the prior six months—a promising sign of renewed momentum.
The Trump Bull Market and Ripple’s RLUSD Stablecoin
Garlinghouse also pointed out the emergence of what he calls the “Trump bull market,” which has sparked optimism across the crypto sector. For Ripple, the impact is deeply personal. The SEC’s lawsuit, led by former chair Gary Gensler, had significantly hindered Ripple’s US operations. However, the Trump administration, with pro-crypto figures like Paul Atkins poised to lead the SEC, could mark a turning point for Ripple and XRP.
Ripple recently launched its RLUSD stablecoin, which has already outperformed rivals PYUSD and EURC in 24-hour trading volume. The bullish momentum and policy shift have fueled expectations for Ripple and XRP to thrive under the new administration.
What Lies Ahead for Ripple and XRP?
With Paul Atkins expected to lead the SEC under Trump’s administration, the ongoing lawsuit against Ripple may be resolved, potentially removing a significant barrier for XRP’s price growth. Investors are watching closely as optimism surrounding Ripple and the broader crypto market continues to build.
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