Ripple Donates $100K in XRP for Wildfire Relief: XRPUSD Breaks Intraday Resistance

by

Ripple has announced a donation of $100,000 in XRP to aid
communities impacted by the ongoing wildfires in California. The funds are
allocated to World Central Kitchen and GiveDirectly, two nonprofit
organizations that provide immediate relief and assist with long-term
rebuilding.

In the cryptocurrency market, XRPUSD has crossed a
significant resistance level of 2.60000 on intraday charts. This development
suggests the possibility of continued bullish momentum for the digital asset.

Ripple’s Donation Doubled by Isaacman’s Pledge

The donation is made through The Giving Block, a crypto
philanthropy platform. Additionally, entrepreneur Jared Isaacman has pledged to
match Ripple’s contribution, potentially doubling the support for affected
communities.

California Wildfires Spread, Threaten Brentwood, Encino

Meanwhile, Southern California is experiencing
“extremely critical fire conditions,” driven by Santa Ana winds. The
Palisades Fire, along with four smaller fires, continues to spread, endangering
areas such as Brentwood, Encino, and Westwood, according to NBC News.

The wildfires have claimed at least 24 lives and devastated
40,000 acres, destroying over 12,300 structures. As of early today, the
Palisades Fire has burned more than 23,000 acres and remains only 18%
contained. Efforts to control the fires are ongoing amid fluctuating wind
conditions.

XRPUSD Breaks 2.60000, Faces Rejection at 2.89000

Meanwhile, XRPUSD made a significant bullish breakout at
2.60000 on the H1 Chart. As of now, the cryptocurrency is trading well above
this level, suggesting that buyers may consider entering long positions at
favorable value areas.

However, at the 2.89000 level, it faced multiple rejections
today, which could result in a double top pattern. Buyers may opt to wait for a
better risk-reward opportunity, as going long above this level may provide more
favorable conditions.

This article was written by Tareq Sikder at www.financemagnates.com.

Source link

Related Posts