Donald Trump and Ripple Did Not Clash, Legal Chief Sets Record Straight

Key Takeaways

• XRP’s price surged following a report suggesting Trump might consider including XRP in a national reserve.
• Allegations emerged of a clash between Trump and Ripple over donations to Kamala Harris.
• Ripple’s legal chief dismissed the rumors as baseless.

XRP saw a notable price jump after a New York Post report  claimed that Donald Trump was considering including American cryptocurrencies like XRP in a national reserve.

The excitement, however, was soon overshadowed by reports of a supposed fallout between Trump and Ripple over past political donations and support.

Ripple Denies Rumors of Rift With Trump

The rumors centered on claims that Trump criticized Ripple for supporting Kamala Harris during the election rather than backing his campaign.

However, Ripple’s Chief Legal Officer, Stuart Alderoty, swiftly shut down the rumors, calling them baseless.

“Pure fiction,” Alderoty said on social media , adding, “Completely made up. Wonder who’s behind this?”

Ripple has been at the forefront of crypto lobbying efforts this presidential election cycle.

While it’s true that Ripple’s co-founder, Chris Larsen, poured in millions to support Kamala Harris, the company primarily supported Republican candidates, with Alderoty personally donating over $300,000 to Trump’s campaign .

In addition to backing Trump, Ripple had invested in other Republican figures, including John Deaton, who challenged Senator Elizabeth Warren for her Massachusetts Senate seat.

Ripple CEO Brad Garlinghouse has always defended his colleagues’ right to support  the candidate of their choice, emphasizing that crypto policy should be a priority across party lines.

“We need to immediately change course from this administration’s misguided war on crypto,” Garlinghouse said. “It’s not about party lines; it’s about championing policies that drive blockchain and crypto innovation.”

XRP’s Potential Role in a U.S. Crypto Reserve

The initial excitement around XRP’s potential inclusion in a U.S. government-backed crypto reserve stemmed from reports that the Trump administration might diversify the national reserve beyond traditional assets like gold by incorporating digital currencies.

Trump met  with Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty on Jan. 6 for dinner.

The meeting sparked speculation about a possible shift in U.S. crypto policy favoring Ripple.

Garlinghouse later described the dinner as a promising start to the year, though no official confirmation of any policy change was provided.

The photo of the meeting shared on social media added to the anticipation, driving XRP’s price to a seven-year high.