Teaming up with Madonna, Holding Support: Ripple Showing Disruptive Potential?
Madonna, the world-famous performer has pledged to help raise funds along with Ripple to support orphans in Malawi.
The fundraising campaign runs from July 30 to August 16th (Madonna’s birthday). Madonna and Ripple, both made it clear that all of the funds raised via public donations in the superstar’s campaign would be matched by Ripple.
Madonna said on her Facebook page’s pledge page:
“I have an unwavering commitment to providing vulnerable children with a loving home. For my birthday, I can think of no better gift than connecting my global family with this beautiful country and the children who need our help most. Every dollar raised will go directly to meals, schools, uniforms and healthcare. I want to come together with my friends, fans and supporters to change the lives of Malawian children and let them know they are nurtured, protected and loved. Through their generous commitment to this organization, Ripple will match each dollar donated to this campaign.”
Since the fundraiser is making use of Facebook’s charity features, no processing fees would be charged, and all of what is donated would go directly as a contribution to Raising Malawi.
The Ripple team is excited about the fundraiser. Eric van Miltenburg, the SVP of Business Operations at Ripple said:
“We’re honored to be a part of Raising Malawi’s amazing work with some of the world’s most underserved children and are grateful to our investors at Sound Ventures for making the introduction to us and this important cause.”
While it hasn’t been confirmed whether the funds will be compared in US dollars or in cryptocurrency, we will very soon know how much funds have been raised in the fundraising campaign.
Though one would expect that XRP’s values would have made massive waves in the market, it didn’t even make ripples (pun intended). The value of XRP saw just a 0.46% increase in the last 24 hours.
Speaking of XRP’s values, it has successfully held on to its support at 0.4242 USD for the last six days. Moving averages, however, are falling. It can be said that the bears are attempting a breakdown yet again.
If the XRP/USD pair fails to hold support, it would extend the fall to 0.32862 USD after falling to 0.37942 USD first.
The upside of the fall would be that the 20-day EMA and the 50-day SMA will still act as resistance. The positive divergence on the RSI would be the only bullish sign. Trading based on the signal alone would be counterproductive and is hence not recommended.
Regardless, the cryptocurrency seems to be on a path of disruption with its new Chief Technology Officer, David Schwartz, plotting the path for XRP during a YouTube Ask Me Anything (AMA) session.
Coming back from a recent Europe tour, he said:
“I talked to a lot of banks and one of the things that I learned from banks that I didn’t really fully appreciate is that they are in fear of being disrupted by new technologies.”
He later added:
“I think if those efforts are successful that’s gonna be a reason to use that asset if it’s more liquid and if it’s cheaper to transfer.”
The concern, as of now, is being raised over the attractiveness of Ripple to the ambitious capital market firms which are on the lookout for a new source of value.
Ripple has garnered a lot of support around the globe and is still gaining a lot of support. These are strong signs of a disruptive potential in the cryptocurrency!