Ripple Pledges Crypto Donation: Turkey's Earthquake Relief Efforts
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Ripple made the announcement on February 15 that it would donate one million XRP to NGOs that help victims of the earthquakes in Turkey and Syria. The fintech company stated that it would make a direct donation of $250,000. 654,000 coins) through the relief fund for Crypto for Charity. It also stated that it would match every cryptocurrency donation to the fund at a ratio of 2:1, with a maximum of $750,000.
Crypto Donors Join Ripple
On February 6, a 7.8-magnitude earthquake struck Turkey and Syria, according to reports, resulting in more than 36,000 deaths.
Ripple clarified that CARE, Mercy Corps, and the International Rescue Committee are among the four NGOs supported by the fund.
It stated that these are providing "immediate cash, basic items such as household kits, dignity kits for women and girls, hygiene supplies, and more" to the affected communities in Syria and Turkey.
World Central Kitchen, which works with field kitchens, local chefs and restaurants, and food trucks to feed survivors and first responders, will also receive funds.
In addition to Ripple, other businesses and individuals have pledged crypto support for the cause. Additionally, the Tezos Foundation facilitates cryptocurrency contributions to relief efforts.
Additionally, Ethereum co-founder Vitalik Buterin has been donating ETH to a number of charitable organizations. In the past few days, Vitalik has given approximately $228,000 (150 ETH) to two Turkish relief organizations.
The most recent donation, made on February 13, was made to Anka Relief, a crypto-based community and aid fund that helps people affected by the Turkish earthquake. Additionally, Vitalik gave 100 ETH to Abhap, a charity that accepts cryptocurrency donations.
Digital assets have already raised more than $4.4 million, according to the Abhap website.
Forecasts For Prices
At the time of this writing, the price of XRP is $0.38, up 2.8% on the day. However, the Ripple cryptocurrency is still under pressure, having lost 6% in the previous week and having failed to surpass $0.40 since February 9.
As the market rally that began in January loses steam, XRP is currently in a wider retreat. In addition, the cross-border payments coin has lost 89 percent since reaching its all-time high of $3.40 in January 2018.