The blockchain-based company Ripple Labs announced a donation of $100,000 worth of XRP XRP/USD tokens on Tuesday to support the wildfire relief efforts in California.
What happened: The San Francisco-headquartered fintech firm said on X that the contributions will be facilitated through philanthropic organizations like The Giving Block, World Central Organization, and GiveDirectly.
Donations made through The Giving Block will be matched 1:1 by Jared Isaacman, founder and CEO of the non-profit's parent company, Shift4.
Matching donations doubles the amount provided by an individual or organization. In this case, the contributions will be matched 1:1 until the $1 million mark has been met.
While donations will be accepted even after the $ 1 million mark, they won't be eligible for the match.
See Also: Shytoshi Kusama Outlines TREAT Token’s Usefulness Ahead Of Launch, Optimistic Whales Buy Up Shiba Inu
Why It Matters: Ripple’s efforts come at a time when the raging wildfires have caused tremendous damage to life and property. The fires have resulted in at least 24 deaths and damage to over 12,000 structures, with the total damage and economic loss estimated to be between $250 billion and $275 billion.
President Joe Biden has announced a one-time payment of $770 for victims of the ongoing California wildfires.
Meanwhile, the XRP token rallied to a 7-year high on Tuesday, just 17% shy of its all-time highs. The upsurge was supported by strong demand from whales, who own 37% more XRPs than they did two months ago, according to on-chain analytics firm Santiment.
Price Action: At the time of writing, XRP was exchanging hands at $2.82, up 10.86% in the last 24 hours, according to data from Benzinga Pro.
Image via Shutterstock
Read Next:
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
