Ripple Rises Alone Among Major Coins... 'Trump Effect'

The cryptocurrency Ripple is showing a solo upward trend during the day.

As of 6:18 AM on the 9th, Ripple is recording $2.32, up 1.22% from the previous day according to CoinMarketCap.

Notably, Ripple's rise is drawing attention as most major cryptocurrencies are showing a downward trend. The CoinDesk 20 index, which represents the indicators of 20 major cryptocurrencies, plunged 2.83% from the previous day. At the same time, all of the top 10 cryptocurrencies by market capitalization, except for Ripple, showed a decline, including Bitcoin (-3.07%), Ethereum (-3.59%), Binance Coin (-1.41%), Solana (-4.80%), Dogecoin (-5.62%), Cardano (-9.26%), and Tron (-2.59%).

From left: Brad Garlinghouse, Ripple CEO, Donald Trump, U.S. President-elect, Stuart Alderoty, Ripple CLO. Photo: X capture

Some suggest that Ripple's solo upward trend is due to Ripple CEO Brad Garlinghouse meeting with President-elect Donald Trump the previous day. Garlinghouse shared on his X (Twitter) account, "Had a great dinner with Trump," and described it as "a strong start to 2025." Stuart Alderoty, Ripple's CLO, was also present at the meeting.

Oleary Bardear, Nansen's chief analyst, stated, "We expect continued easing in the labor market. Therefore, there will be an interest rate cap, which is positive for cryptocurrencies," adding, "In this context, Ripple CEO meeting Trump is undoubtedly a favorable factor."

Additionally, expectations for Ripple's new business, the stablecoin RLUSD, and the launch of a Ripple-based ETF are also cited as factors drawing buying interest in Ripple. Monica Long, Ripple's president, recently mentioned in an interview with Bloomberg, "There is a possibility that a Ripple-based ETF will be launched in the near future."