Ripple CEO Highlights 'Trump Bull Market' as Crypto Gains Momentum
San Francisco, Tuesday, 7 January 2025.
Ripple CEO Brad Garlinghouse attributes a surge in U.S. crypto deals and hiring to the ‘Trump bull market,’ with 75% of Ripple’s roles now U.S.-based.
Dramatic Shift in U.S. Operations
In a significant turnaround from previous years, Ripple has dramatically increased its U.S. presence, with 75% of open positions now based in the United States [1][3]. CEO Brad Garlinghouse reports that the company signed more U.S. deals in the final six weeks of 2024 than in the previous six months combined [4][6], marking a stark contrast to their previous strategy of focusing operations abroad during the SEC lawsuit [6].
Market Performance and Valuation
The impact of this strategic shift is reflected in XRP’s market performance, with the cryptocurrency experiencing an 18% gain year-to-date as of January 6, 2025, securing its position as the third-largest cryptocurrency with a market capitalization exceeding $140 billion [7]. The token has shown remarkable growth, surging from $0.52 in November 2024 to $2.46, representing a nearly fivefold increase [8].
Key Appointments and Regulatory Outlook
The optimistic outlook is largely attributed to Trump’s incoming administration and key appointments, including Scott Bessent as Treasury Secretary nominee and Paul Atkins as the new SEC chair pick [2]. These appointments, along with David Sacks as the White House AI and Crypto Czar, are seen as potentially transformative for the crypto industry [2]. A significant development is expected on January 20, 2025, when current SEC Chair Gary Gensler is scheduled to resign [7].
Future Prospects and Potential IPO
Looking ahead, industry experts suggest Ripple might pursue an IPO by the end of 2025 or Q1 2026, contingent upon the confirmation of new SEC Chair Paul Atkins [7]. Market analysts at Polymarket indicate a 70% chance of ETF approval for Ripple in 2025, with four ETF applications currently under SEC review [8]. Historical data suggests significant potential for growth, as evidenced by Bitcoin’s 60% rally in 2021 following its first ETF approval [8].