Ripple’s total holdings of XRP have exploded in value by some $125 billion since election day.
That remarkable statistic underscores the degree to which American crypto firms have benefited from Donald Trump’s re-election—and offers one explanation as to why they have so enthusiastically thrown their support behind the president-elect’s incoming administration.
According to Ripple’s most recent financial disclosures, the company holds some 4.44 billion XRP in liquid assets. It also oversees nearly 39 billion XRP currently in escrow. XRP was developed by Ripple’s founders in 2012.
On the eve of the 2024 presidential election, XRP was worth $0.50. Since then, it has exploded in value. This week, the token came within inches of its all-time high price of $3.40, hitting $3.38 earlier today.
All told, Ripple’s reported stash of XRP is now worth some $146.48 billion dollars; in November, it was worth about $21 billion.
That historic turnaround is thanks in no small part to Ripple’s aggressive campaign—along with other leading American crypto firms—to change U.S. crypto policy by influencing the 2024 election.
Last year, Ripple, along with Coinbase and Andreessen Horowitz, led a $300 million, super PAC-driven charge to reverse crypto’s flagging regulatory fortunes and turn the industry into one of Washington’s key power centers.
SEC Appeals Ripple Ruling, Seeks Reversal on XRP Classification
The U.S. Securities and Exchange Commission has formally filed an appeal in its legal battle with Ripple Labs, challenging a July 2023 ruling that partially dismissed claims against the company. Filed late Wednesday, the appeal focuses on whether Ripple’s XRP sales to retail investors qualify as unregistered securities transactions under federal law. Citing the Howey Test, the SEC argues that Ripple’s promotional efforts created an expectation of profits among investors, making XRP an investmen...
The campaign was remarkably successful. Nearly every candidate supported by crypto super PACs won election in November, and the incoming federal government looks poised to completely change its tune on crypto’s once-questioned legality.
Since the election, President-elect Trump has signaled his intention to support crypto by a variety of means. He is expected to sign several pro-industry executive orders as soon as he takes office on January 20.
Ripple CEO Meets With Trump as Firm's President Expects XRP ETFs 'Very Soon'
XRP outperformed other major crypto assets in the last 24 hours, apparently fueled by Ripple President Monica Long’s optimism about impending XRP ETFs and CEO Brad Garlinghouse’s meeting with Donald Trump. The Ripple-linked asset and native token of the XRP Ledger is up 4% in the last day to a current price of $2.32 as Bitcoin and Ethereum both gained less than 1%, according to data from CoinGecko. Some of that price movement may be attributed to continued speculation over XRP ETFs, which Long...
In the weeks leading up to Trump’s swearing-in, crypto firms have lined up to curry favor with the incoming administration, particularly by shelling out millions to his inauguration fund.
Ripple gave more to the Trump inaugural fund than any other crypto donor: $5 million.
A drop in the bucket, in the scheme of things.
