What to know:
- Ripple increased US-based roles due to optimism surrounding the Trump administration’s policies, which are perceived to jumpstart innovation and job growth in the US.
- The company signed more US deals in the last six weeks of 2024 than in the previous six months, indicating a positive business environment shift post-election.
- This shift in focus towards the US market is part of Ripple’s response to the “Trump effect,” which is believed to be making crypto more favorable in the US.
It’s generally anticipated that the incoming U.S. President, Donald Trump, could stimulate growth in the cryptocurrency market. However, even before he takes office, his statements about cryptocurrencies have led to an increase in business for local cryptocurrency companies.
According to Ripple Labs, a financial company that provides payment infrastructure and the RLUSD stablecoin through the XRP Ledger, there’s an increase in local transactions and recruitment activities as they approach President Trump’s inauguration on January 20th. They attribute this growth to the anticipated policies of the incoming administration.
2025 has arrived, and the Trump-led bull market is indeed a reality, as stated by CEO Brad Garlinghouse in a recent post on X. Given that the Securities and Exchange Commission (SEC) under Gensler’s leadership has essentially halted our business opportunities domestically for years, this development carries even more significance for Ripple. The enthusiasm expressed is both obvious and well-earned.
In the final six weeks of 2024, following the election, we sealed more U.S. agreements than we had in the preceding six months. Regardless of your opinion, it’s clear that the ‘Trump effect’ is already revitalizing crypto. This impact is evident not only during his campaign but also in the Administration’s top priorities from day one,” he concluded.
2025 has arrived, and the Trump-era bull market is indeed a reality. For Ripple, this development holds a more profound impact following years of restricted business opportunities at home due to Gensler’s SEC actions. The optimism radiating from our organization is evident and thoroughly justified.
Today:
✅ Three-quarters (75%) of Ripple’s open positions are now based in the United States, as…— Brad Garlinghouse (@bgarlinghouse) January 5, 2025
Garlinghouse mentioned that the company is primarily focusing on recruiting within the U.S., a change from its international growth strategy during the tenure of the previous Joe Biden administration.
As an analyst, I can share that approximately three-quarters of Ripple’s open positions are based in the United States. Consequently, this organization has chosen to contribute financially to President Trump’s upcoming inauguration. Moreover, they have pledged a value of $5 million in XRP tokens towards this initiative.
Over the past few months, there’s been a growing belief among traders that a pro-cryptocurrency administration under President Trump could positively impact tokens associated with U.S.-based companies, such as Ripple Labs (related to XRP) and Uniswap (UNI). This is because these firms are heavily involved in enhancing the value for token holders.
Since Trump’s victory, the value of XRP has surged by over 300%, outpacing the expansion of all significant digital currencies. This substantial growth is largely attributed to the narrative surrounding the U.S.
Additionally, traders based overseas are also joining the trend. Notably, last week, XRP experienced a significant increase of over 11%, despite the major cryptocurrencies staying within their price ranges. This surge was primarily driven by approximately $1.3 billion worth of trades on the Upbit exchange, which has a focus on Korea.
Previously, a study by CoinDesk noted exceptionally large trades in XRP originating from South Korean exchanges. In the past, such trading volumes have often signaled market instability and a tendency for prices to rise.
On Monday’s Asian afternoon, XRP was hovering slightly above the $2.40 mark, maintaining a steady position over the past day as the overall market remained relatively stable.
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2025-01-06 11:09