TLDR
- Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty met with President-elect Trump at Mar-a-Lago, marking a potential shift in crypto regulation
- XRP price currently trades at $2.30, with predictions of a dip to $1.90-$2.00 before potentially reaching $3.50-$4.00 by early February 2025
- Ripple has increased US-based hiring with 75% of open positions now in America, contrasting with previous years of overseas focus
- The company has signed more US deals in six weeks following Trump’s victory than in the previous six months
- Trump’s campaign includes pro-crypto policies, including plans to make the US the “crypto capital of the planet”
Ripple, the blockchain technology company, is repositioning itself in the American crypto landscape following a pivotal meeting between CEO Brad Garlinghouse and President-elect Donald Trump at Mar-a-Lago. The January 8 dinner meeting, which included Ripple’s Chief Legal Officer Stuart Alderoty, marks a notable shift in the company’s relationship with US leadership.
The meeting comes at a time when Ripple is actively expanding its US operations. The company reports that 75% of its current job openings are now based in the United States, representing a major change from its previous focus on international hiring during the past four years.
In a clear indication of changing market dynamics, Ripple has managed to secure more US-based partnerships in the six weeks following Trump’s election victory than it did in the entire previous six months. The company is backing this expansion by establishing larger office spaces in San Francisco and New York.
The timing of these developments coincides with broader changes in the cryptocurrency market. XRP, Ripple’s associated cryptocurrency, is currently trading at $2.30, showing a 6.17% increase on Tuesday. Market analysts suggest the price might experience a temporary decline to the $1.90-$2.00 range around January 20, 2025, coinciding with Trump’s inauguration date.
2025 is here and the Trump bull market is real. For Ripple, this is even more personal after Gensler’s SEC effectively froze our business opportunities here at home for years. The optimism is obvious and very deserved.
Today:
✅75% of Ripple’s open roles are now US-based, while…— Brad Garlinghouse (@bgarlinghouse) January 5, 2025
Trump’s campaign has outlined several pro-cryptocurrency initiatives, including a plan to establish the United States as a global crypto hub. These policies represent a departure from the regulatory approach of the current administration, under which many crypto companies faced increased scrutiny.
The dinner meeting at Mar-a-Lago follows Garlinghouse’s recent comments about what he termed the most “pro-crypto congress” ever. This gathering is particularly noteworthy given Ripple’s history with US regulators, specifically its ongoing legal battle with the Securities and Exchange Commission (SEC) that began in 2020.
Great dinner last night with @realDonaldTrump & @s_alderoty.
Strong start to 2025! pic.twitter.com/UjM6lahUG4
— Brad Garlinghouse (@bgarlinghouse) January 8, 2025
Ripple’s presence in the US market had been constrained by the SEC lawsuit, which alleged that the company’s sale of XRP constituted an unregistered securities offering. This legal challenge led to XRP being removed from several cryptocurrency exchanges and slowed the company’s growth in the domestic market.
The company’s renewed focus on US operations includes expanding its physical presence. New office spaces in San Francisco and New York demonstrate Ripple’s commitment to establishing a stronger domestic foundation. A company spokesperson emphasized their belief that the US will regain its position as the global cryptocurrency hub.
Market analysts are watching XRP’s price movements closely. Technical analysis suggests that after the potential dip in January, the price could reach the 161.8% Fibonacci extension level at $3.36, approaching the current all-time high of $3.40. Some predictions extend further, suggesting a possible new peak between $3.50 and $4.00 by early February 2025.
The global context of these developments includes ongoing changes in international financial systems. Various countries, particularly in Asia and the Middle East, are advancing projects involving Central Bank Digital Currencies (CBDCs) for cross-border transactions, potentially reducing dependence on traditional systems like SWIFT.
Trump’s economic proposals include deregulation and tax cuts, which many view as potential catalysts for growth in speculative assets like cryptocurrencies. The campaign has brought in advisors known for their crypto-friendly stances, including figures like Scott Bessent, David Sacks, and Paul Atkins.
Paul Atkins, who is expected to lead the SEC under Trump’s administration, has a reputation for supporting crypto innovation. His potential appointment has led to speculation about the future of the SEC’s lawsuit against Ripple.
The company’s recent success in securing US partnerships suggests a changing regulatory environment. These new relationships indicate growing acceptance of blockchain technology in traditional financial systems.
Recent data shows Ripple’s expanding influence in cross-border payments. The company continues to develop its blockchain technology to connect traditional and decentralized finance systems.
Ripple’s strategic moves come as the broader cryptocurrency market experiences renewed interest. The company’s focus on regulatory compliance and institutional partnerships positions it differently from many other blockchain projects.
