Donald Trump Is Displeased With Ripple and XRP On This Major Announcement

In early March, President Donald Trump announced the creation of a strategic crypto reserve, acting on his promise to make the U.S. the crypto capital of the world.However, the announcement on Truth Social has caused some controversy. It reportedly infuriated the President as the announcement was drafted by a lobbyist with ties to Ripple.Did Ripple Influence the President’s Announcement?A recent report from Politico drew attention to this announcement, as it identified XRP, Solana, and Cardano as the digital assets to be included in the cryptocurrency reserve. This announcement did not include Bitcoin and Ethereum.Trump claimed in the post that the initiative would fall under an executive order aimed at securing American leadership in cryptocurrency. According to Politico, the language used in that post had been drafted by an employee of Ballard Partners, a lobbying firm that counts Ripple among its clients.Trump reportedly had no knowledge at the time that the suggestion came from a group representing Ripple’s interests. Once briefed, he felt blindsided. Those close to the situation told Politico that the revelation made the president furious, as he saw the move as a manipulation of his public platform.We are on twitter, follow us to connect with us :- @TimesTabloid1— TimesTabloid (@TimesTabloid1) July 15, 2023Lobbyist Fallout and White House TensionsBrian Ballard, the head of the lobbying firm involved, saw his standing in Trump’s political circles decline sharply following the incident. Though Ballard had enjoyed a reputation as a trusted insider and prolific fundraiser, sources say his connection to Ripple and the post resulted in his marginalization within Trump’s orbit.Despite this, Politico noted that Ballard Partners has continued to expand its client roster because of its reputation. It has secured over a hundred new contracts since the 2024 election, including major corporations such as Netflix, Bayer, and JP Morgan, and over $14 million in revenue since the start of 2025.Ripple, XRP, and Market ImpactAlthough Ripple does not control XRP, some in the crypto space may see the post as an endorsement because of the company’s connection to the asset. Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty also met with the president in January, adding to this perceived endorsement.The crypto market responded quickly to Trump’s original message, with the prices of XRP, Solana, and Cardano seeing noticeable gains in the aftermath of Trump’s statement. When approached, Ripple did not comment on the matter, and Ballard Partners also declined to respond to Politico’s requests.Following the incident, Trump amended his position, indicating that the proposed reserve would include Bitcoin and Ethereum. Later that month, he signed an executive order establishing a U.S. Strategic Bitcoin Reserve, signaling continued interest in digital assets.Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.Follow us on X, Facebook, Telegram, and Google NewsThe post Donald Trump Is Displeased With Ripple and XRP On This Major Announcement appeared first on Times Tabloid.