Why did Ripple executives lobby Trump to include SOL in the crypto reserve plan?

In a complex chess game in the cryptocurrency space, Ripple Labs executives embarked on a compelling move. Ripple Labs CEO Brad Garlinghouse and Chief Legal Officer Stu Alderoty have actively lobbyed President Trump to promote the inclusion of SOL in the upcoming crypto reserve plan, according to unchained on March 6, citing two people familiar with the matter. Behind this move, there are obviously deep strategic considerations.

From Ripple's own perspective, one of its core goals is to improve the legitimacy of XRP in the crypto community. The crypto industry is fiercely competitive and various tokens are emerging one after another. If XRP wants to consolidate its position, it needs more support and recognition. If SOL can be successfully included in the crypto reserve plan, with SOL's influence in the market, it is expected to drive the entire crypto market to increase its attention to related tokens. As the XRP mentioned together, it is very likely to benefit from it, gain more trust from investors and participants in the crypto community, and thus enhance its legitimacy.

Incorporating SOL into the program will help Ripple communicate its message that it advocates for crypto reserves containing a variety of U.S. tokens. With the current cryptocurrency regulatory environment still unclear, Ripple advocates such diversified crypto reserves that can demonstrate its open and inclusive industry attitude. This will not only attract more different types of investors, but will also alleviate regulators’ concerns about excessive concentration of a single cryptocurrency to some extent. When crypto reserves show a diversified trend, it means that risks are dispersed and the stability of the entire cryptocurrency system will also be enhanced.

For the Trump administration, establishing a cryptocurrency reserve program has multiple purposes. On the one hand, this can be regarded as a support and recognition of the cryptocurrency industry, attracting more related companies and capital to flow into the United States, promoting the development of the US cryptocurrency industry, and enhancing the United States' competitiveness in the global cryptocurrency field. On the other hand, Trump received strong support from the cryptocurrency industry in the 2024 election, and promoting the cryptocurrency reserve program can also be seen as a reward for supporters and consolidate the support of this group for him and his political party. Ripple's lobbying to include SOL at this time coincides with some of the Trump administration's policy orientation in the cryptocurrency field.

A Ripple news representative responded that the crypto industry would achieve its goals if it worked together, and also expressed gratitude to Trump for his vision of government digital asset reserves. This shows that Ripple hopes that the entire crypto industry can form a joint force to jointly respond to challenges from supervision, market and other aspects. While emphasizing that industries should work together rather than fight each other, Ripple may hope to provide cover for other tokens to be included in the reserves. After all, the development of the cryptocurrency industry does not rely solely on a single token. Only when many tokens develop together can the entire industry ecosystem be more prosperous. If more tokens can be successfully included in the crypto reserve plan, the cryptocurrency industry's position in the financial market will also be more stable.

Unchained reporters pointed out that Ripple's move is to provide some cover for other tokens to be included in the reserves. In actual operation, when tokens such as SOL are included in the crypto reserve plan, it will attract more attention and discussion in the market. During this process, other tokens may also be mentioned by the way, thereby increasing the possibility of being included in the reserve. Moreover, when multiple tokens jointly enter the reserve system and form a diversified crypto reserve combination, the image of the entire cryptocurrency industry in the eyes of policy makers will be more complete and mature, and will be more conducive to promoting the development of relevant industry policies in a positive direction.

From a market perspective, once SOL is included in the crypto reserve plan, it will trigger a series of market reactions. First of all, SOL's own price may rise sharply, attracting the attention of more investors. At the same time, the related cryptocurrency ecosystems, such as various decentralized applications and smart contracts based on SOL, will also be further developed. And the spillover effect of this development may radiate to the entire cryptocurrency market, including XRP. For example, more investors have entered the crypto market because of the popularity of SOL. While they understand SOL, they may also pay attention to XRP, thus bringing more potential investment opportunities to XRP.

Ripple Labs executives lobbied Trump to include SOL in the crypto reserve plan, which is based on a comprehensive consideration of improving the legitimacy of XRP, conveying industry advocacy concepts, adapting to government policy orientation, covering up the inclusion of other tokens, and promoting market development. If this action succeeds, it will have a profound impact on Ripple itself and the entire cryptocurrency industry.