How Trump Got Played Into Backing XRP as a Crypto Reserve Asset

Political figures diving into crypto endorsements? Color us shocked—especially when it’s a pump-and-dump in disguise.

Here’s the play-by-play: A slick lobbying campaign—packed with cherry-picked data and ‘advisors’ with vested interests—convinced the former president that XRP was the golden ticket for a ‘crypto-backed dollar.’ Never mind that Ripple’s still tangled in lawsuits or that the token’s utility is, well, debatable.

Wall Street’s old guard must be laughing into their martinis. Another day, another ‘disruptive’ asset co-opted by the hype machine.

Here’s How Trump’s XRP Post Was Made

The incident began at Mar-a-Lago, where a Ballard Partners staffer repeatedly pressed TRUMP to publish pre-drafted language extolling specific digital assets, as Politico reports. After two brushoffs, the president handed the text to an aide, and the message went live:

“A US crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the US is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”

Moments later, West Wing officials realized Ripple sat on Ballard’s roster, provoking immediate anger. “He felt like he’d been used,” two officials familiar with the reaction said. Trump vented, “He is not welcome in anything anymore,” effectively freezing Ballard out of White House meetings.

White House “crypto czar” David Sacks phoned Chief of Staff Susie Wiles within minutes, warning the post undercut a government crypto summit planned for the following week. Trump famously released another post: “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!”

Wiles tracked the prompt back to Ballard’s employee, and a senior aide blasted the lobbyist by phone for “hawking his client.” Staff instructions soon followed: no more meetings with Ballard.

Ballard insisted to Politico that talk of a freeze is exaggerated: “We are accustomed to false accusations … despite these unnamed sources, Ballard Partners will continue to deliver results.” He cited post-incident fundraiser invitations and a scheduled call with a senior official as proof he is not persona non grata. Yet several of his clients have quietly approached other Trump allies to secure face time—an implicit acknowledgment that access now comes at a premium.

Ripple’s courtship of Trump predates the flap. Chief Legal Officer Stuart Alderoty donated more than $300,000 to pro-Trump committees in 2024; Ripple contributed $5 million in XRP to the inaugural fund and remains a major backer of the Fairshake PAC.

Whether those ties explain XRP’s starring role remains unclear, but on March 6 the president signed an executive order establishing a federal “Digital Asset Stockpile,” echoing the reserve concept that sparked the uproar, but with a major difference: The Strategic Reserve is buy-only BTC and hold. The Crypto Stockpile is hold or sell-only.

At press time, XRP traded at $2.29.