Ripple CEO Brad Garlinghouse has recently spotlighted the significant positive effects that Donald Trump’s victory has had on his company’s operations. Garlinghouse referenced what he calls the “Trump bull market,” which has provided a much-needed boost to Ripple and, by extension, to the broader crypto industry, particularly XRP.
Ripple’s US-Based Expansion and Growth
In a recent post on X (formerly Twitter), Garlinghouse emphasized that 75% of Ripple’s open roles are now based in the United States—a notable shift. Over the past four years, Ripple had predominantly hired outside the U.S., but since Trump’s election, the company has been bringing more operations back to American soil. Garlinghouse pointed out that Ripple has signed more U.S.-based deals in the last six weeks of 2024 than in the previous six months, illustrating a marked uptick in domestic partnerships.
The “Trump Effect” on Ripple’s Success
Garlinghouse credited Trump’s victory as a catalyst for innovation and growth, especially within the crypto industry, due to his pro-crypto stance. With figures like Scott Bessent, David Sacks, and Paul Atkins at the helm, the Trump Administration is seen by Garlinghouse as promoting innovation, job growth, and policy changes that directly benefit companies like Ripple.
Garlinghouse further stressed that the “Trump effect” has revitalized the crypto landscape, particularly with his day-one priorities geared toward fostering industry growth. He expressed his belief that the Trump campaign has indeed been instrumental in “making crypto great again.”
The “Trump Bull Market” for XRP
In his post, Garlinghouse made a compelling statement about the so-called “Trump bull market”, which he believes is not just a speculative trend but a real and tangible opportunity for Ripple. He cited how Ripple’s operations were severely impacted by the long-standing lawsuit from the U.S. Securities and Exchange Commission (SEC), which had effectively frozen Ripple’s U.S. business activities for several years. The Trump bull market, however, provides hope that Ripple’s fortunes will improve significantly.
Pro-Crypto Leadership and SEC Lawsuit
One of the most significant developments Garlinghouse pointed out is the potential change in leadership at the SEC, with Paul Atkins, a pro-crypto figure, expected to lead the Commission under Trump’s administration. This shift could potentially lead to the dismissal of the SEC’s lawsuit against Ripple, which has been a significant overhang on the company and its associated cryptocurrency, XRP.
Garlinghouse suggested that a favorable resolution of the lawsuit would lead to increased optimism in the market, especially for XRP, which had been stagnant during the 2021 bull run due to the ongoing legal challenges. The resolution of this lawsuit, coupled with a pro-crypto regulatory stance under Trump, could help unlock Ripple’s full potential, leading to a bullish outlook for XRP.
Conclusion
Brad Garlinghouse’s comments underscore the optimism surrounding Ripple’s future as a result of Donald Trump’s influence on U.S. crypto policy. With Trump’s victory and pro-crypto agenda, Ripple has seen increased hiring in the U.S., more domestic deals, and a potential end to its ongoing legal battles. These changes, alongside a broader bull market for cryptocurrencies under Trump’s administration, have helped position Ripple for stronger growth in the coming years, potentially boosting XRP’s price and market position.
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