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Ripples Donates $29 Million Worth of XRP to US Public Schools

Ripple | Ripple Charity | Ripple Donation | XRP | Cryptocurrency donation | Crypto news

DonorsChoose.org, a non-profit organization that allows individuals to donate directly to public school classroom projects.

Ripple announced the donation on its website yesterday:

“Every Rippler, from the executive team to our newest hires, started their careers in one place — the classroom. It’s in this pivotal setting that children’s dreams are forged and legacies begin…In part, it’s the teachers we encounter in our formative years that enable us to pursue ambitious goals like this…We’re thrilled to announce that Ripple and its executive team are giving back to America’s teachers with a $29 million dollar donation in XRP to DonorsChoose.org.”

The fund receiver is to convert the gesture into US dollars within two weeks due to the ongoing cryptocurrency volatility, and at the same time use the donation to refurbish over 30,000 classrooms across the US. Charles Best, founder and CEO of DonorsChoose, says the gesture is “the largest donation of cryptocurrency.”

Also read : Ripple (XRP) May Take Over Bitcoin (BTC), Says Crypto Experts

The third largest cryptocurrency by market capital took after some altcoins to donate in charity. Ethereum in collaboration with OmiseGO donated $1M tokens to African based charity, GiveDirectly. The gesture was also followed by Buterin, donating $2.4 M worth of Ethereum to the SENS Research Foundation. Also, Pineapple Fund donated $1M worth of BTC to the Internet Archive.

Ripple’s XRP coin, the third-largest digital currency by market cap, traded near 58 cents as of 2:40 p.m. ET Wednesday. The cryptocurrency is down more than 70 percent this year.

Ripple reached its maximum market value at $3.65 at the start of this year, however is currently priced at only $0.58, as the entire cryptocurrency market continues to suffer. All of the top 10 digital currencies by market cap have also fallen so far this year.

With Ripple contributing an enormous worth of its coins for a good cause, more cryptocurrencies may forward to support more social causes despite the recent decay in the cryptocurrency market.

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.

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