The Trump Effect in XRP and the Broader Crypto Market

US President Donald Trump's recent social media activity has been generating quite a buzz in the crypto community. It also paints a bullish picture for XRP this year.

US President Donald Trump’s recent social media activity has attracted the attention of the crypto community, and his actions may bode well for XRP in 2024.

On Tuesday, Trump shared two Ripple-related articles on his Truth Social account, and Ripple CEO Brad Garlinghouse took note by reposting a tweet that mentioned the articles.

The articles highlighted Garlinghouse’s comments from January, where he discussed the “Trump effect” on crypto investment.

Breaking Down the Trump Effect on XRP, Crypto MarketsIn January, Garlinghouse highlighted the role Trump played in boosting the crypto market, even before he took office, which is being called the “Trump bull market.”

Indeed, Trump's victory in the November presidency had a significant impact on the sector. It led to a chain of all-time highs for Bitcoin (BTC), which, in turn, led to substantial recoveries in altcoin prices.

XRP was among the biggest beneficiaries of this phenomenon, surging from a low of $0.4967 during the November 4, 2024, election to a seven-year high of $3.389 two months later. This translates to an increase of over 582%.

Moreover, Ripple's launch of the Ripple USD (RLUSD) stablecoin further amplified XRP's utility.

XRP's remarkable bounce from sub-dollar prices to near-record highs also led it to overtake Tether (USDT) in the crypto market cap rankings, ultimately snatching back the third place in the listing, right next to Ethereum (ETH).

Following this success, Ripple also announced its plans to increase its US-based roles by 75%. This marks a significant shift from the last four years, where the company kept its business largely out of the country due to regulatory challenges.

Ripple's Cozy Relationship with the Trump FamilyBeyond Trump's administration, Ripple also appears to be enjoying special privileges. Notably, the company was among the president's multi-million donors during the election and before his inauguration.

While Ripple does not disclose the extent of its influence within the current US regime, Garlinghouse and Ripple's Chief Legal Officer, Stuart Alderoty, have been actively engaged in discussions on crypto reforms with both the executive and legislative branches of the government.

In addition to the dinner with Trump prior to the January 20 inauguration, Garlinghouse has shared photos of himself with members of the first family, the vice-president, and members of Congress, hinting at Ripple's potential role behind the scenes in the present government, which may pave the way for positive developments for Ripple, XRP, and the crypto community at large.