Ripple’s Hiring Surge and the ‘Trump Effect’ Boost XRP by 10%

Ripple, the blockchain company renowned for its cross-border payment solutions, is ramping up operations, including a significant hiring spree in the United States. This move seems to align with optimism around President-elect Donald Trump’s anticipated pro-crypto policies as he prepares to take office on January 20.

Ripple’s Expanding Footprint

Brad Garlinghouse, Ripple’s CEO, shared on X that the firm completed more business within the final six weeks of 2024 than in the prior half-year combined. Although Ripple has refrained from disclosing specific deals, the company’s careers page reveals nearly a dozen new U.S.-based job postings since October.

This flurry of activity comes as XRP, the cryptocurrency central to Ripple’s blockchain, surged over 10% in the past week—outpacing Bitcoin’s 3% rise during the same period. Garlinghouse attributed the market’s buoyancy to what he termed the “Trump effect,” tweeting,

“Say what you want, but the ‘Trump effect’ is already making crypto great again.”

Ripple Among Peers

Ripple isn’t alone in capitalizing on the shifting U.S. crypto landscape. Robinhood is actively recruiting for its crypto division, advertising roles such as compliance lead, content manager, and web developer. Meanwhile, Andreessen Horowitz seeks crypto-focused event managers for its offices in San Francisco and New York City.

Consensys, the blockchain firm behind MetaMask and Linea, is also bolstering its workforce, aiming to expand its crypto payments and decentralized identity services. Leona Semmens, the company’s interim chief people officer, confirmed the addition of nine strategic hires in the U.S.

Trump’s Crypto-Friendly Stance

The crypto market is abuzz with speculation that Trump’s presidency could herald a more favorable regulatory environment, reversing the strict oversight seen under President Joe Biden and SEC Chair Gary Gensler. Under Gensler’s leadership, the SEC aggressively pursued legal action against Ripple, Coinbase, Binance, and other crypto firms, asserting that these companies must adhere to traditional securities regulations.

Trump has nominated Paul Atkins, a crypto advocate and former SEC commissioner, to lead regulatory reforms. Atkins’ consulting firm, Patomak, has connections with several blockchain firms, signaling a potential pivot toward industry-friendly policies.

Allies in Key Positions

Other Trump appointees also hold crypto-friendly views. Howard Lutnick, the nominee for Secretary of Commerce, is the CEO of Cantor Fitzgerald, a firm with ties to Tether. Additionally, Trump has created a bespoke “AI and Crypto Czar” role, appointing PayPal co-founder David Sacks to lead the initiative.

Market Response

As the political climate shifts, the crypto market has shown renewed enthusiasm. Bitcoin recently reclaimed the $100,000 milestone, pushing the total crypto market value to $3.7 trillion in early 2025, per CoinGecko. XRP’s valuation soared to $135 billion, securing its position as the fourth-largest cryptocurrency.

Bitgalactic’s Perspective

At Bitgalactic, we believe Ripple’s strategic hiring and operational expansion are timely responses to a pivotal moment for the crypto industry. While the “Trump effect” brings optimism, it’s vital to remember that sustainable growth requires innovation, responsible governance, and fostering trust within a global regulatory framework. Whether Trump’s policies deliver on this promise remains to be seen, but the current momentum signals a bright start for 2025 in the crypto space.