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Ripple earthquake Turkey Syria

Ripple Provides $1 Million In XRP For Earthquake Relief In Turkey And Syria

Jake Simmons
by Jake Simmons
2 years ago
·
Posted in Ripple
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ripple announced today that it will join other crypto industry companies in providing funds for earthquake victims in Turkey and Syria. In a tweet, Ripple wrote that it will provide $1 million in XRP to support NGOs.

The company, which is awaiting the judge’s decision in its legal battle with the U.S. Securities and Exchange Commission, will donate $250,000 in XRP, the equivalent of about 654,000 XRP, and will also match all crypto donations 2:1, up to $750,000.

If you're looking to maximize your impact with the Turkey and Syria earthquake relief efforts, here's your chance! @Ripple will match any crypto donation 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 encourage members of the crypto community to donate to earthquake relief as well. The announcement comes less than two weeks after the 7.8-magnitude earthquake that struck Turkey and Syria on February 6. The death toll has since risen to more than 36,000.

In addition, the earthquake also destroyed people’s property and livelihoods. The donations will support four NGOs and will be evenly distributed among CARE, World Central Kitchen, Mercy Corps and the International Rescue Committee (IRC).

Related Reading: Here’s Why Ripple CEO Garlinghouse Is Optimistic About the Future

The NGOs are helping affected communities in Syria and Turkey by providing immediate cash, basic items such as household kits, dignity kits for women and girls, hygiene items and more.

CARE is providing 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 relief supplies. IRC provides cash, hygiene items, health services, and safe spaces for women and children.

Related Reading: Bank Of England Mentions Ripple In New CBDC Consultation Paper, Here’s Why

As Bitcoinist reported, Ripple is not the only crypto donor. Ethereum co-founder Vitalik Buterin donated 99 ETH worth about $150,000 to the NGO Ahbap on February 11. Shortly after, he donated another 50 ETH worth $75,000 to Anka Relief.

Within the Tezos community, the #TezQuakeAid initiative has formed, which has raised 50,000 XTZ. The Tezos Foundation has recently stated its willingness to support the transfer to NGOs.

XRP Price Today

At press time, XRP was trading at $0.3833, which is below the 50-, 100-, and 200-day exponential moving average (EMA) on the daily chart. The 200-day EMA is currently at $0.4153. To set a first bullish impulse, the break above this level will be crucial.

Within the last 24 hours, the XRP price managed to gain around 4%, driven by the broader sentiment in the crypto market following the CPI release. Whether these gains are sustainable remains to be seen, as fears about a “higher for longer” interest rate policy from the U.S. Federal Reserve rose with yesterday’s data.

Ripple XRP price
XRP price below 200-day EMA, 1-day chart | Source: XRPUSD on TradingView.com
Featured image from Mahmoud Sulaiman / Unsplash, Chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Jake Simmons

Jake Simmons

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Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

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