U.S. President Donald Trump is reported to have been unknowingly manipulated by a lobbyist with ties to Ripple Labs, leading him to publicly endorse XRP as part of a proposed national cryptocurrency reserve plan.
According to a Politico report dated May 8, an employee of Brian Ballard—a well-known lobbyist closely connected to Trump—subtly provided the President with a drafted social media post. The draft suggested the creation of a strategic crypto reserve comprising XRP, Solana (SOL), and Cardano (ADA). Trump published the message on his social media platform on March 2. However, just days later, he reportedly discovered that Ripple was a client of Ballard’s—prompting anger and a sense of betrayal. “He’s no longer welcome in anything,” Trump allegedly said about Ballard, per Politico sources.
Previously, Ripple’s Chief Legal Officer Stuart Alderoty donated over $300,000 to political action committees and fundraising events supporting Trump’s 2024 campaign. Following Trump’s electoral victory, both Alderoty and Ripple CEO Brad Garlinghouse reportedly met with him and attended his inauguration events. Ripple also donated $5 million worth of XRP to Trump’s inauguration fund and was a key backer of Fairshake—a political action committee (PAC) known for supporting pro-crypto candidates through aggressive media campaigns. A Fairshake spokesperson confirmed in January that the PAC will continue to support the 2026 midterm elections.
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Despite the controversy stirred by Politico’s revelations, XRP’s price remained relatively stable, trading around $2.30 at the time of publication, with a modest 7.8% gain in the preceding 24 hours.
