Ripple Signs Record US Deals Amid “Trump Bull Market” Optimism
Ripple CEO Brad Garlinghouse recently talked about the big change since Donald Trump was elected. With Trump being pro-crypto, the company has expanded its US presence and closed big deals. Looks good for XRP and the overall crypto market.
Ripple Expands US Hiring and Partnerships
In a recent X post, Garlinghouse said 75% of Ripple’s open positions are now in the US. That’s a big change from the last 4 years when 75% of the hires were outside the US. This is due to the new administration being pro-crypto.
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Garlinghouse also said Ripple has closed more US deals in the last 6 weeks of 2024 than in the previous 6 months combined. This is during a broader market rally due to the optimism around Trump’s policies and appointments, including pro-crypto advocate Paul Atkins as head of the SEC.
Ripple’s new RLUSD stablecoin is another sign of growth. It has already surpassed PYUSD and EURC in 24 hour trading volume. Ripple can move fast in the changing crypto landscape.
“Trump Bull Market” Sparks Optimism
Garlinghouse called the “Trump bull market” real. He said it’s due to the Administration’s focus on innovation and job growth, led by people like Scott Bessent, David Sacks and Paul Atkins. According to Garlinghouse this is driving economic activity and confidence in the space.
Ripple, which was hounded by the SEC for years under the previous leadership, expects a more friendly approach from the new administration. Analysts think the SEC lawsuit against Ripple may be dropped which would be a big weight off the company and good for XRP prices.
The lawsuit, filed under former SEC Chair Gary Gensler, had crippled Ripple’s US business. With a more friendly regulatory environment, XRP can finally move. Looks good for growth in the next few months.
XRP Price Outlook: Poised for Growth?
Ripple’s new market position, thanks to the Trump Administration, should have a positive impact on XRP’s price. Analysts say the long running SEC lawsuit kept XRP from performing during the 2021 bull run. With the lawsuit likely to be dropped, XRP can break out.
It’s not unrealistic. Ripple’s new partnerships, new stablecoin and pro-crypto leadership in DC is giving investors hope. There are still issues but Ripple is looking good for the company and XRP.
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