TL;DR
- Donald Trump’s endorsement of Ripple on Truth Social, where he shared articles about the company’s US expansion, has fueled speculation within the XRP community about a potential price surge.
- Ripple CEO Brad Garlinghouse’s meeting with Trump at Mar-a-Lago and rumored role in his crypto advisory council highlight the administration’s increasing engagement with the digital asset sector.
Trump’s Potential Support
The election of Donald Trump as America’s 47th President was considered a huge win for the cryptocurrency community, given his favorable stance on the sector shown during his presidential campaign. The Republican also made several promises to let the industry thrive and pledged to make the US the crypto capital of the world.
Upon reassuming office on January 20, he took key steps to stick to his word. On January 23, 2025, the politician signed an executive order titled “Strengthening American Leadership in Digital Financial Technology,” which supports the growth and use of digital assets and blockchain technology across all sectors of the economy.
The order also prohibits federal agencies from “undertaking any action to establish, issue, or promote CBDCs within the jurisdiction of the United States or abroad.”
Trump’s presidential victory and the hype surrounding his inauguration were among the main factors fueling the crypto market’s bull run in late 2024 and early 2025, as Ripple’s CEO, Brad Garlinghouse, noted.
Last month, the exec said the company had shifted its focus once again toward its homeland – the USA – following the Republican’s triumph.
“75% of Ripple’s open roles are now US-based, while over the last 4 years, the vast majority of hires were outside the US. We signed more US deals in the last six weeks of 2024 (since the election) than the previous six months,” Garlinghouse stated.
Several hours ago, Trump shared two articles revealing Ripple’s recent development in America on his social media platform Truth Social.
His endorsement sparked major speculation across the XRP community, with some expecting this to catalyze a price explosion for the asset. Others, like XRPcryptowolf, called the market “irrational” because it did not move simultaneously after the interaction.
Garlinghouse and Trump
Ripple’s CEO and the American president have already broken the ice between each other. In January, they had a dinner meeting at Trump’s Mar-a-Lago estate.
A month later, Garlinghouse was rumored to be a top contender for the Republican’s cryptocurrency advisory council.
The group’s main role will be to create a comprehensive regulatory framework for the cryptocurrency sector and work closely with Trump and David Sacks (whom the president tapped to serve as cryptocurrency and AI “czar”).
