Moonpay and Ripple Among First to Donate to California Wildlife Rescuers

The cryptocurrency giants have teamed up together to help California firefighters in their fight against life-threatening wildfires.

Ripple and Moonpay have together donated RLUSD stablecoins worth $50.000 in support of the Los Angeles Fire Department (LAFD), seeking to support the fire crews and first responders who work day and night to protect people's lives and valuable property.

The Ripple Impact Initiative Shows Results of the Wildfire in California

Eric Van Miltenburg, senior executive at Ripple, expressed his sentiments in announcing the partnership between Ripple and LAFD. The partnership underlines Ripple's commitment to supporting the fire department at this critical time. Miltenburg highlighted the importance of those working to protect everyone's lives, saying:

"The fires in California have caused tremendous devastation - our hearts are with those affected. We are grateful to see Ripple and MoonPay contribute to relief efforts in support of the LAFD Foundation at such a difficult time for so many."

The LAFD also encouraged Ripple's effort on its social channels, thanking the company for its support during critical times.

The Fire Department acknowledged Ripple's efforts, stating, "Thank you for giving back to our LAFD heroes" as they face tremendous challenges in fire control.

Fires, fuelled by drought conditions and strong winds, have affected many areas, including Pasadena, Calabasas and Palisades, creating a state of emergency. More than 200,000 people were forced to evacuate their homes. Kristin Cowley, head of the LAFD, pointed out that recent budget cuts have made the department under-resourced and unprepared for the situation. However, despite the lack of resources, the department managed to control the fires, saving lives and precious homes.

Ripple Impact Relief, designed by Ripple to address global climate change, has donated more than $170 million to charities, funds, non-profits and educational programmes, with the aim of raising awareness that Ripple's commitment goes beyond just cryptocurrency.

Ripple's donation highlights the use of cryptocurrencies to address real-world challenges. In the past, organisations such as The Giving Block have donated over $200 million in cryptocurrencies to charities. In addition, industry leaders such as Vitalik Buterin, co-founder of Ethereum, have promoted the use of crypto assets to support relief efforts and medical research.

XRP on the Upswing

In recent weeks, XRP has struggled to gain momentum, preventing the token from registering a price rise. However, the market did see an increase, with open interest rising by almost $1.6 billion. The value of the token rose from $2.71 billion to $4.3 billion, underscoring the positioning of traders pointing to a price recovery.

In the past five days, XRP has been rising, currently trading at $2.5 per token. The price is currently in a state of consolidation and ranges between $2.73 and $2.18.

This range highlights the uncertainty regarding the next price movement. According to experts, if current factors persist, the token could get stuck in this price range. Furthermore, it could break the support level of $2.18, falling to $1.94 and triggering a bearish trend for this altcoin.