Trump's XRP Boost: Crypto Surges Amid U.S. Expansion and ETF Hopes

Former U.S. President Donald Trump has sparked a wave of interest in XRP, the cryptocurrency associated with Ripple, after sharing a CoinDesk article on his Truth Social platform. The post, which highlighted XRP's growing presence in U.S. deals, garnered significant attention, with over 6,300 likes and 268 replies. Users expressed enthusiasm, calling for "XRP to the moon" and even suggesting it should back a U.S. crypto reserve.

While XRP's price remained stable at $2.53, trading activity surged following Trump's post. According to data, 24-hour volume jumped by 26% to $5.5 billion, indicating a significant increase in interest and investment in the cryptocurrency.

Trump's social media move was not random, as Ripple has been actively expanding its U.S. business. CEO Brad Garlinghouse attributed this focus to what he calls the "Trump effect," with the company signing more U.S. deals in the last six weeks of 2024 than in the previous six months. This expansion is largely driven by anticipation of a more crypto-friendly administration and increased hiring efforts to encourage innovation.

The timing of Trump's post also coincides with growing optimism over a potential XRP ETF approval. The SEC is facing fresh scrutiny from Elon Musk's Department of Government Efficiency (DOGE), and the recent acknowledgment of a filing from the New York Stock Exchange and Grayscale has fueled speculation about an XRP ETF. With political tailwinds, increased trading volume, and ETF speculation, XRP's price has rallied more than 140% in the past three months, outpacing Bitcoin's 4% increase in the same period.