Ripple announced today that it will join other crypto industry companies to provide funds for earthquake victims in Turkey and Syria. At tweetRipple wrote that it will provide $1 million in XRP to support NGOs.
The company, which is awaiting a judge’s decision in a legal battle with the US Securities and Exchange Commission, will donate $250,000 in XRP, equivalent to about 654,000 XRP, and will also match all crypto donations 2:1, up to $750,000.
If you want to expand your impact with Turkey and Syria earthquake relief efforts, here’s your chance! @Ripple will match crypto donations 200% with our new cause fund: https://t.co/gm4zjqfIJU https://t.co/qJpLUfYjh9
– Crypto for Charity (@crypto4charity_) February 15, 2023
Ripple Joins Other Crypto Donors
The move by Ripple is part of an effort to support members of the crypto community as well as contribute to earthquake relief. The announcement comes less than two weeks after a 7.8-magnitude earthquake struck Turkey and Syria on February 6. The death toll is over 36,000.
In addition, earthquakes also destroy people’s belongings and livelihoods. The donation will support four NGOs and will be distributed equally between CARE, World Central Kitchen, Mercy Corps and the International Rescue Committee (IRC).
The NGO is helping affected communities in Syria and Turkey by providing direct cash, basic items such as household kits, dignity kits for women and girls, hygiene items and more.
CARE provides food, shelter, hygiene kits, heating supplies and cash. World Central Kitchen is on the ground in Turkey and Syria distributing hot meals to survivors and first responders. For this, they work with field kitchens, local chefs, restaurants and food trucks.
Mercy Corps has been working in Syria since 2008, delivering aid supplies. The IRC provides cash, hygiene items, health services, and a safe place for women and children.
As Bitcoinist reported, Ripple is not the only crypto donor. Ethereum co-founder Vitalik Buterin donated 99 ETH worth approximately $150,000 to the NGO Ahbap on February 11. Soon after, he donated another 50 ETH worth $75,000 to Anka Relief.
In the Tezos community, the #TezQuakeAid initiative has been formed, which raised 50,000 XTZ. The Tezos Foundation recently expressed its willingness to support transfers to NGOs.
XRP price today
At press time, XRP is trading at $0.3833, which is below the 50-, 100-, and 200-day exponential moving averages (EMA) on the daily chart. The 200-day EMA is currently at $0.4153. To set up the first bullish impulse, a break above this level will be important.
In the last 24 hours, the price of XRP managed to gain around 4%, driven by the broader sentiment in the crypto market after the CPI release. Whether this benefit remains to be seen, as fears about the “longer” interest rate policy of the US Federal Reserve rose with yesterday’s data.
Featured images from Mahmoud Sulaiman / Unsplash, Charts from TradingView.com