In March 2025, Donald Trump publicly endorsed cryptocurrencies XRP, SOL, and ADA, causing controversy and leading to a severed connection with a Ripple-linked lobbyist.
Trump's Support for XRP and Lobbyist Influence
Trump publicly voiced support for XRP as part of a proposal for a U.S. crypto reserve. This support was reportedly the result of manipulation by a lobbyist associated with Ripple. A lobbyist from Ballard Partners prepared a prewritten statement, which ultimately led Trump to cut ties with the lobbyist due to a conflict of interest. Trump's reaction was described by staff as 'Not welcome in anything anymore.'
Brief Spike in XRP Following Trump's Endorsement
The market reacted minimally to Trump's endorsement, with XRP rising approximately 5% briefly. However, the political ramifications were more significant, as Trump severed connections with the lobbyist responsible for influencing his decision. The strategy for a government crypto reserve is still being pursued.
Ripple Lobbyist Controversy and Crypto Policy Implications
The situation represents an unusual case of political influence within the crypto sector. Past crypto cycles involved broader regulatory advocacy rather than specific token endorsements by a U.S. president. It is expected that similar controversies may lead to policy shifts and heightened calls for transparency in crypto lobbying.
The scandal surrounding Trump's endorsement of XRP, linked to lobbyist influence, highlights the importance of transparency in political lobbying within the cryptocurrency space. The future of cryptocurrency regulation may change in response to this situation.
