Ripple announced on September 7, 2023, that it would match the next $50,000 worth of XRP and crypto donations made to the Maui Relief Fund by 200%.
This means that for every $1 donated, Ripple will donate $2. The fund was created to support those affected by the recent flooding in Maui, Hawaii.
To donate XRP, users can go to the Maui Emergency Response Fund website and select XRP as their payment method.
Ripple and SpaceX tie-up
The partnership between Ripple and SpaceX is significant because it is the first time that XRP has been accepted as a donation for a charitable cause. It could legitimize XRP and make it more widely accepted by businesses and organizations.
The news of the partnership sent XRP’s price soaring. The cryptocurrency is up over 20% in the past 24 hours.
Shift4 pledges to match $50K in crypto donations
Jared Isaacman, the CEO of Shift4, has also pledged to match the next $50,000 in crypto donations to the Maui Relief Fund. Isaacman is a well-known philanthropist who has donated millions of dollars to various charities.
The Maui Relief Fund has raised over $1 million so far. The funds will be used to help with food, shelter, and medical care for those affected by the flooding and mudslides.
How the partnership will impact XRP’s long-term price remains to be seen. However, the news is certainly a positive development for the cryptocurrency community.
The collaboration could also lead to other uses for XRP in the future. For example, SpaceX could use XRP to facilitate payments for its space tourism or satellite launch services.