The total value of Ripple’s XRP holdings has skyrocketed by around $125 billion since Election Day.
This impressive figure shows how much US crypto companies have benefited from Donald Trump’s re-election, and explains why they are so enthusiastic about supporting the incoming president-elect’s administration.
According to Ripple’s latest financial reports, the company currently holds around 4.44 billion XRP in liquid assets and oversees nearly 39 billion XRP locked in escrow. XRP was developed by Ripple’s founders in 2012.
Ahead of the 2024 presidential election, XRP was priced at just $0.50. Since then, its value has skyrocketed. This week, the token has come close to its all-time high of $3.40, hitting $3.38 today. In total, Ripple’s XRP holdings are now worth $146.48 billion, up from just around $21 billion in November.
The dramatic change comes as Ripple, along with other leading US crypto companies, has been aggressively campaigning to promote crypto policy in the US by influencing the 2024 election.
Since his election, President-elect Donald Trump has signaled his support for the crypto industry in a number of ways. He is expected to sign a series of executive orders in the industry’s favor upon taking office on January 20.
Read more: XRP Surges to $3 as Search Interest Outpaces Bitcoin
In the weeks leading up to Trump’s inauguration, crypto companies have been scrambling to curry favor with the incoming administration, notably by contributing millions of dollars to his inauguration fund. Ripple is the largest crypto industry contributor to the fund, contributing $5 million. However, that figure is just a drop in the bucket in the grand scheme of things.
