DIGIVESTASI - Ripple's XRP Value Soars to IDR 2,049 Trillion Since Trump's Re-election

The total holdings of Ripple's XRP have experienced a significant surge, reaching approximately USD 125 billion (IDR 2,049.7 trillion) since Donald Trump won the U.S. Presidential Election last November. This remarkable increase highlights the substantial gains achieved by U.S. crypto companies following Trump’s re-election. This figure also underpins Ripple’s strong support for the newly elected administration.

According to the latest financial report, Ripple controls approximately 4.44 billion XRP as liquid assets. Additionally, the company oversees nearly 39 billion XRP stored in escrow accounts. The XRP token was initially developed by Ripple’s founders in 2012.

XRP Price Approaches Record Highs

Before the 2024 U.S. Presidential Election, XRP was priced at USD 0.50 (IDR 8,198). However, following Trump's victory, the token's value skyrocketed. This week, XRP’s price neared its all-time high of USD 3.40 (IDR 55,751). On Thursday (January 16), the token traded at USD 3.38 (IDR 55,423). Currently, the total reported value of XRP held by Ripple is approximately USD 146.48 billion (IDR 2,401.89 trillion), a significant increase compared to November’s valuation of USD 21 billion (IDR 344.34 trillion).

The Role of Crypto Campaigns in the 2024 U.S. Election

This extraordinary success is also attributed to a massive campaign led by Ripple and other major crypto companies to influence U.S. crypto policy through the 2024 election. Last year, Ripple, Coinbase, and Andreessen Horowitz spearheaded a campaign backed by a USD 300 million (IDR 4.9 trillion) super PAC. This campaign aimed to revitalize sluggish crypto regulations and establish the industry as a prominent force in Washington.
 

As a result, nearly all candidates supported by the crypto super PAC won their elections in November 2024. The new U.S. administration is now expected to adopt a more favorable approach toward the crypto industry, which had previously faced scrutiny over its legal standing.

Trump Signals Support for the Crypto Industry

Since his re-election, Donald Trump has hinted at his support for the crypto sector. The newly elected president is predicted to issue several pro-crypto executive orders shortly after his inauguration on January 20.

In the lead-up to his inauguration, various crypto companies, including Ripple, have provided financial support to the new administration. Ripple, in particular, contributed USD 5 million (IDR 81.99 billion) to Trump’s inauguration fund, an amount significantly larger than contributions from other crypto firms.