Ripple CEO Attributes Hiring Boom in the US to Trump’s Influence

Highlights:

• Ripple CEO was full of praise for Donald Trump, citing that he has positively influenced the crypto regulatory landscape.
• He added that the cross-border payment firm now has more US-based open roles.
• Recently, Ripple has completed more partnership deals than it has ever done in the past.

Ripple’s Chief Executive Officer (CEO), Brad Garlinghouse, has praised Trump for his positive influence in the nation’s crypto regulatory landscape. Expressing his excitement on X, the CEO said his company appeared to be one of the biggest winners of Trump’s impact following its protracted court battle with the United States Securities and Exchange Commission (SEC).

Among the several changes that came with Trump’s election victory, Garlinghouse was particularly excited about the company’s hiring growth in the United States. Notedly, because of the legal battle with the regulatory watchdog, the cross-border firm drastically reduced its rate of allowing open roles in the United States.

Part of Garlinghouse’s tweet read:

“75% of Ripple’s open roles are now US-based, while over the last 4 years, the vast majority of hires were outside the US.”

Aside from the positive influence on its US-based employment rate, the CEO mentioned that the company now finds it easy to complete partnership deals with other firms. According to him, Ripple has signed more collaborations after Trump’s victory than it has ever achieved in the past six months.

He also spoke on the growing employment prospects in the United States. “Team Trump is already jumpstarting innovation and job growth in the US with Scott Bessent, David Sacks, Paul Atkins, and others at the helm, and they aren’t even in office yet,” the CEO added. In conclusion, he reiterated that Trump is already making crypto great again, which invariably implies that his office assumption will result in greater achievements.

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

Ripple Protracted Dispute with the SEC

The CEO’s statement about Ripple being one of the biggest winners of the incoming administration might seem like an exaggeration. However, it came from a place of devastating impact the payment firm suffered after the regulatory body filed a lawsuit against it in December 2020.

The SEC’s grievance against Ripple was that it offered XRP, which it classified as a security asset to customers. The heated legal dispute that followed the court filing resulted in XRP’s price dormancy in the next few years. Notably, the closest XRP got to attaining regulatory clarity was in July 2023, when the presiding Judge, Analisa Torres, classified some parts of XRP sales as non-security.

According to her verdict, XRP qualifies as a security when sold to institutional clients. However, when transacted with institutional customers via exchanges, it ceases to be a security. She also noted that XRP is not a security when service providers use the token. The ruling resulted in XRP appreciating significantly to reach $0.93, the token’s peak price in 2023.

Implications for XRP’s Price Actions

After Trump’s victory in the November 2024 polls, XRP’s price has significantly increased, breaking price levels above $1 for the first time in over two years. At the time of writing, XRP is up by 0.1% in the past 24 hours. It is priced at $2.38 and ranks as the fourth most valuable cryptocurrency, with a market capitalization of $136.99 billion.

With the new wave from Trump’s incoming administration, many market experts have confidently asserted new price highs for the token. In one of its most recent news articles, Crypto2Community reported that XRP could hit $11 this year. The prediction came from Ali Martinez’s XRP analysis on his verified X handle.

The expert stated that XRP is consolidating and could face strong resistance at $2.73. Breaking the constraints could spur XRP’s price rally. However, if the constraints prevail, XRP could drop to $2.05 before eventually appreciating to $11.

$XRP is still consolidating within the pennant of a massive bull pennant pattern. Until the $2.73 resistance is broken, a pullback to $2.05 remains possible before a potential breakout to $11! pic.twitter.com/ET39FJMtAc

— Ali (@ali_charts) January 4, 2025