Ripple CEO Announces Massive Hiring in US, Optimistic on Trump's Pro-Crypto Policies

Bittime - IThe crypto industry in the United States is getting excited again. This is because Ripple CEO Brad Garlinghouse recently announced massive hiring plans in the country.

This shows an optimistic signal about the impact of the policies promoted by the US President-elect, Donald Trump. 

In a statement posted on social media, Garlinghouse expressed his belief that the era of the “Trump effect” would provide a significant boost to the crypto market. 

This is especially true for US-based companies. These include Ripple which is known as a pioneer in digital payments and the issuer of Ledger's XRP-based stablecoin RLUSD.

XRP Bright Spot After Ripple Case

After experiencing pressure due to strict regulatory policies in the previous government era, Ripple is now taking bold steps by focusing more attention on the domestic market. 

Garlinghouse emphatically stated, “2025 is here and the Trump bull market is a reality,” adding that Ripple is now hiring almost entirely within the US, in line with its strategy to capitalize on a resurgent moment in the industry.

Read also: XRP Price in 2025 Predicted to Rise 436% According to This Top Trader

Optimism Linked to Trump's Policies

Garlinghouse noted that in the six weeks following the election, Ripple managed to sign more deals in the US than in the previous six months. 

“You may comment on the situation, but the ‘Trump effect’ has already begun to revive the crypto industry – through his campaign and the new Administration's priority agenda,” he said. 

This optimism, said Garlinghouse, is the result of a revival of hope for a more conducive business situation after a long period of uncertainty due to SEC policy under Gary Gensler.

With around 75% of vacancies currently open being in the US, Ripple is poised to take advantage of the pro-crypto policies expected to be enacted by the Trump administration. 

Not only that, the company also committed to providing financial support to Trump's inauguration ceremony in the form of $5 million in XRP tokens.

Positive Impact on the XRP Market

It's not just Ripple that feels the impact; The price of XRP also experienced a significant spike. The coin has seen an increase of more than 300% since Trump's victory. 

This price spike outpaced the growth of the majority of other cryptocurrencies on the market. Much of this increase is related to the rapidly growing pro-crypto narrative.

The increase in XRP prices was also driven by a surge in trading from international traders. Most notably, on crypto exchanges focused on the South Korean market, which recently recorded trading volumes of up to $1.3 billion. 

Read also: XRP Price Rises, This is the Cause!

Previous analysis from CoinDesk showed that the high trading volume of XRP on Korean exchanges indicates a positive volatility pattern, which could potentially lead prices higher.

As of Monday afternoon, XRP was trading just above $2.40, with minimal price changes over the past 24 hours. This reflects considerable stability in the broader market, amidst a resurgence of confidence in the crypto industry.

FAQs about XRP

1. What is XRP?

XRP is a digital asset developed by Ripple Labs, designed to facilitate cross-border transactions quickly and efficiently. 

2. What influences the price of XRP?

The price of XRP is influenced by various factors, including market sentiment, funding rates, trading volume, and regulatory news. Price movements of other digital assets can also impact the price of XRP.

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Reference 

coindesk, Ripple's Garlinghouse Touts ‘Trump Effect’ Amid Bump in U.S. Deals, accessed January 7, 2025.

Decrypt, TradFi Firms Are Flocking to Crypto After Trump Win: Ripple CEO Brad Garlinghouse, accessed January 7, 2025.

Author: Y