Will Ripple’s $1M donation to Ukraine help XRP group the price chart?

• XRP-Activity
• Fund to Ukraine
• XRP’s Bump after Tweet?

Ripple is a US based software company, a big currency exchange and a remittance network.  It is released in 2012 created by Ripple Labs, it mainly supports tokens representing fiat currency, cryptocurrency, commodities. Ripple mission is to enable the tokens to secure, instant and make free global financial transactions of any size without any chargeback. The company also created its own digital currency referred to as XRP. It will allow financial institutions to transfer money with negligible fees and wait-time.

The U.S. Securities and Exchange Commission stated that Ripple executives sold 14.6 billion units of XRP for more than $1.38 billion to fund the company’s operations and enrich themselves. The Ripple exchange network was named as one of the top 50 Smartest Companies in the February 2014

By 2018, over 100 banks had signed up, but most of them were only using Ripple’s XCurrent messaging technology, while avoiding the XRP cryptocurrency due to its volatility problems. XRP is decreasing in value since 6 September 2021.On 20 January 2022, the token went down further to reach its long-term support at $0.5812.

XRP- Activity

On March 1^st week of 2022 the ripple cryptocurrency was trading at $0.7342, with a 2.34% price.

XRP 1-week social activity as on March 2022:

Galaxy Score™ 63/100 AltRank™ 102/3,586 123,193 social mentions 82,045,780 engagements 566 social contributors 1.17% social dominance 60,272 shared links Price +7.02% to $0.74

Fund to Ukraine

Tweets-

The Ripple charity had tweeted that,

Ripple stands with Ukraine against the Russian invasion. Today, we’re donating $1M shared between @refugees and @WCKitchen to bolster their incredible efforts helping displaced people in Ukraine and neighboring countries.

The community has been making an effort to aid Ukraine as the country withstands an invasion of its territory from the Russian Federation. Outnumbered and outmatched in terms of military force, the Ukrainian government accepted aid from anyone willing to lend it. The Ripple donation appears to be the “Reserve fund of Ukraine”.

XRP’s Bump after Tweet?

Ripple and the digital token (XRP) price witnessed an impressive uptick .As on March 2022 it had a 6% bump in its price action. In fact, XRP’s 1-week social activity signaled a bullish scenario following the development. The 1-hr, and 24-hr active address metric, showed a rise on Santiment’s chart. This uptick is used to indicate an increase in investors’ interest. However, a spike in the active address count is followed by a price bump. Analysts should reconsider that XRP will move higher.

Conclusion

Even after the $1 million donation announcement, XRP didn’t witness any positive price action “the bullish”. It will not hold true for XRP since the number of transactions executed had declined quite significantly.