It’s been a wild ride for Ripple Labs and its CEO, Brad Garlinghouse, in recent weeks. XRP, the native cryptocurrency of Ripple, surged by more than 17% on November 15, fueled by speculation that a friendlier regulatory climate may be on the horizon in the U.S. But while XRP’s price rallied, Garlinghouse and Ripple are now under fire following rumors that the CEO recently met with President-elect Donald Trump—a rumor that’s stirring up tensions across the crypto industry.
The rumored meeting, which hasn’t been confirmed or denied, has raised eyebrows among industry veterans. Some view it as a possible political maneuver to align Ripple more closely with the U.S. government, while others are accusing Ripple of attempting to co-opt the U.S. policymaking process, especially with regards to Bitcoin and central bank digital currencies (CBDCs).
Let’s break down what’s going on, why the meeting rumors matter, and how this all ties into XRP’s recent surge.
The Trump-Ripple Rumor: What’s Behind the Backlash?
It all started when social media lit up with rumors that Brad Garlinghouse had met with President-elect Donald Trump. These whispers quickly made their way into the broader crypto community, and industry insiders began voicing their concerns. One of the most vocal critics has been Ryan Selkis, the former CEO of Messari, a well-known crypto research firm.
Selkis didn’t hold back, accusing Garlinghouse of pushing Ripple’s agenda, particularly promoting XRP and CBDCs, both of which have raised concerns among Bitcoin advocates. In a now-viral post, Selkis wrote:
“Brad Garlinghouse is shilling XRP and CBDC implementations.”
The backlash didn’t stop there. Pierre Rochard, Vice President of Research at Riot Platforms, echoed Selkis’ concerns, saying:
“We can’t let Ripple co-opt the United States policymaking process with their anti-Bitcoin agenda. We need more Bitcoiners in the administration.”
These remarks highlight a deep division within the crypto community: Ripple’s positioning, particularly with its focus on XRP and CBDCs, is seen by some as a challenge to the decentralized ideals championed by Bitcoin and other cryptocurrencies. While Ripple has long argued that it is not competing with Bitcoin but rather providing a more efficient alternative to traditional banking systems, its ties to central banks and governments have raised questions about its true mission.
The Ripple Effect: XRP’s Big Price Surge
Amid all the controversy, there’s no denying the surge in XRP’s value. The rumors about a potential meeting with Trump are believed to be one of the catalysts behind the double-digit rally in XRP’s price. XRP has been under heavy regulatory scrutiny for years, particularly with the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). The recent rumors of a more crypto-friendly administration, led by Trump, have given investors hope that the regulatory landscape might shift in Ripple’s favor.
When asked about the meeting rumors, Garlinghouse remained tight-lipped, neither confirming nor denying the report. However, he did express strong optimism about the future of the crypto industry under a Trump administration. During a Fox Business appearance, Garlinghouse said:
“The crypto industry has embraced Trump; Trump has embraced the crypto industry. I think it’s very genuine, and I think he sees the opportunity, he sees innovation, he sees entrepreneurship — I am very excited about what the future holds.”
Garlinghouse also pointed to the SEC’s hostile stance toward the industry under Gary Gensler as one of the key reasons why many crypto projects have chosen to leave the U.S. or operate in a limited capacity. He suggested that the industry is ready for a fresh start under Trump’s leadership, who has expressed support for the crypto sector.
A Major Policy Shift? Trump’s Crypto Strategy
President-elect Trump’s relationship with the crypto world has always been a bit of a rollercoaster. On the one hand, he’s been openly critical of cryptocurrencies in the past, calling Bitcoin a “scam” and expressing concerns over its impact on traditional financial systems. On the other hand, Trump’s rhetoric has shifted somewhat in recent years, with many in the crypto community hopeful that his administration might take a more hands-off approach to crypto regulation.
One major development that has caught the attention of the crypto world is Trump’s vow to fire SEC Chairman Gary Gensler on his first day in office. Gensler has been a thorn in the side of the crypto industry, particularly with the SEC’s ongoing lawsuit against Ripple Labs, which has dragged on for years. Many in the crypto community see Gensler’s departure as a sign of hope for more industry-friendly policies under the new administration.
In fact, after Trump’s victory on November 5, several U.S. states took action, filing a lawsuit against Gensler. The lawsuit, led by 18 states including Texas, Nebraska, Tennessee, and Ohio, accuses Gensler of “gross government overreach” in his regulation of the crypto industry. These states argue that Gensler’s actions have violated states’ rights and stifled innovation in the sector.
The Bigger Picture: Ripple, Trump, and the Future of Crypto
The controversy surrounding Garlinghouse, Ripple, and the rumored meeting with Trump highlights the deep divides within the crypto industry. On one side, you have Bitcoin maximalists who see Ripple’s focus on CBDCs as a threat to the decentralized ethos that Bitcoin represents. On the other side, Ripple is positioning itself as a key player in modernizing the financial system through cross-border payments and partnerships with central banks.
With the XRP rally fueled by optimism over Trump’s potential policies, it’s clear that Ripple is hoping for a regulatory reset in the U.S. But that could come at the cost of alienating key segments of the crypto community—especially Bitcoin supporters, who see Ripple’s ties to traditional financial institutions as a step backward in the fight for financial sovereignty.
As Garlinghouse looks toward the future, he’s banking on a more favorable regulatory environment under a Trump presidency. But whether that happens, and what it will mean for the broader crypto industry, remains to be seen.
In the meantime, XRP investors are hoping that the price surge will continue—and that Ripple’s long-running legal battles will finally reach a resolution that clears the path for the company’s next phase of growth.
Conclusion: A Political Play or Genuine Support for Crypto?
Ripple’s rise in XRP’s value, fueled by Trump administration rumors, shows how closely politics and the crypto market are intertwined. While Garlinghouse has expressed optimism about a future under Trump, the road ahead is uncertain—especially with so many factions of the crypto world at odds. As Ripple Labs navigates these waters, it will need to balance regulatory cooperation with decentralized ideals—a challenge that will likely define the next chapter of the company’s story.
