Ripple Donates $29 Million To Fund All 35,000 DonorsChoose Classroom Projects

  • Ripple donated $29 Million to DonorsChoose.com in its XRP token
  • The donation crashed the non-profit's website and funded its 35,000 ongoing campaigns

Cryptocurrencies are too often branded with negative press; rendering them synonymous with terms like "dark web." With the likes of Ripple, it's a stereotype that it seemingly doesn't deserve as the company keeps taking steps towards its goals.

Since its formation in 2012, Ripple has had a special interest in championing the blockchain cause, recognizing its place and responsibility in creating what it refers to as an 'Internet of Value'. It's an ambition Ripple has, to provide a method of payment as fast as information is obtained via the internet.

Over the last few months cryptocurrencies have been undergoing a bearish trend, despite their lofty ambitions. Ripple's XRP hasn't been an exception to this trend; According to CNBC, it was one of the worst performers in the first quarter of 2018, as its value plunged about 74 percent alongside others on the market.

Internet and Education of Value

The Internet of Value would not be possible without the classrooms and teachers that inspire entrepreneurial spirit within students. In the US, the education system finds itself grossly underfunded in many instances.

This led to the creation of DonorsChoose.org, a platform that gives teachers a way to crowdfund any project they want to. From major field trips to extra school supplies, it's provided teachers with an avenue to obtain much-needed support. Projects like Ripple wouldn't be possible without teachers and an education that allowed individuals to aspire to achieve their aspirations and projects.

It's with this in mind that recently, Ripple has committed to donating over $29 million to numerous projects on the website, as an excited Stephen Colbert announced.

Through a blog post on its website, Ripple revealed the donation was made in its XRP token, though it's believed it was immediately converted to USD. DonorsChoose, through a blog post, also commented on the generous donation. It reads:

“Today marks the first time in 18 years where the total number of projects on our site reads ‘0.' Thanks to Ripple’s gift, over the next few weeks tens of thousands more boxes full of supplies will start arriving in classrooms across the country.”

DonorsChoose

Billionaire Novogratz: Altcoins Won't Pump Like In 2017 Bull Run, Bitcoin Will Dominate

It appears that cryptocurrency prices have finally begun to recover after enduring an extended bear market which lasted throughout 2018.

As the market capitalization of Bitcoin (BTC) and other major cryptoassets continues to rise, several analysts have been drawing comparisons between what they’re seeing in the current market and what they observed during the historic bull market of late 2017 and early 2018.

Commenting on the recent crypto market price movements via Twitter, Ran NeuNer, the host of the CNBC Africa Trader show, remarked:

The market is running but we still haven’t seen the crazy alt pumps, pumps where coins do 40% in a day...is it coming?

Bitcoin To “Outperform” All Other Cryptos “This Time”

As the bitcoin price begins to recover, there have been many predictions made regarding the anticipated performance of altcoins. Twitter user “Crypto Bitlord” (@Crypto_Bitlord), a widely-followed digital asset market analyst, believes XRP, which currently has a market cap of around $16.3 billion, may trade as high as $10.

However, prominent crypto investor Michael Novogratz believes that digital asset traders are a lot smarter this time, when compared to some of the bad investment decisions they might have made during the initial coin offering (ICO) craze of 2017.

Novogratz, who’s the founder and CEO of Galaxy Digital, a full-service crypto merchant bank, has predicted that in this market run, Bitcoin will “outperform” all other cryptoassets.

On May 16th, 2019, the Bitcoin price surged to a 2019 high of $8,373 according to CryptoCompare data. In response to bitcoin’s recent price movements, Juan Villaverde, the Chief Analyst at Weiss Crypto Ratings, told CryptoGlobe: 

Bitcoin could fall to as low as $4,400. But [if] it does, it will be the best Bitcoin buying opportunity since 2015.

“More Good News For New Bitcoin Users”

Villaverde, an econometrician and mathematician focused on developing various crypto index models at Weiss Ratings, believes bitcoin would be a great buy at a lower price (as suggested above) because of the following reasons:

  • “The usage of Bitcoin is near all-time highs – 450,000 transactions per day. That’s up from a low of 150,000 in April of 2018 and approaching the all-time high of 490,000 in December of 2017.”
  • “Despite the high transaction volume, fees on the Bitcoin network are at their lowest levels since August of 2017 – more good news for users.”
  • “The Bitcoin block size is now greater than ever before, thanks to the Segwit technology upgrade.”

Villaverde further noted that the predictions are “based on studying the time patterns in Bitcoin's rises and falls throughout its 9 year trading history.” He explained that the time patterns have been analyzed by using an “algorithm-based market cycles model.”

The Chief Analyst at Weiss Ratings also mentioned that the bear market “ended on December 15th 2018 and the model confirmed this shift in trend on March 26th of this year.”

He added:

Then, after the rally that took place starting on April 25th, the same model told me a new bull market was now underway. The same model indicated a 30% to 45% correction due as of late April-early May and we seem to be experiencing that right now.