24th January 2025 – (New York) On 23rd January, 2025, Ripple made a notable contribution of 50 million XRP to its Ripple for Good initiative, a move that quickly influenced the XRP market. As reported by Andrew Fenton on Twitter at 10.45am EST, this donation prompted an immediate price increase for XRP, which rose from $0.75 to $0.82—a 9.33% jump—within just 15 minutes. CoinMarketCap data confirmed this significant movement, highlighting a trading volume spike of 1.2 billion XRP in the same timeframe.
This donation coincided with a general upward trend in the cryptocurrency market, with Bitcoin increasing by 2%, moving from $40,000 to $40,800, as noted by CoinDesk. Ripple’s commitment to social impact was well-received by the XRP community, reflected in the market’s enthusiastic response.
The implications of Ripple’s donation were felt across various trading pairs. On the XRP/USD pair, the price rise led to a 30% increase in buy orders on major exchanges such as Binance and Coinbase. In the XRP/BTC pair, XRP’s value relative to Bitcoin also increased by 8%, moving from 0.00001875 BTC to 0.00002025 BTC, according to CryptoCompare data. Similarly, the XRP/ETH pair saw an 8.57% increase, rising from 0.0035 ETH to 0.0038 ETH.
Technical indicators supported this bullish trend on 23rd January. By 11.15am EST, the Relative Strength Index (RSI) for XRP had moved from 60 to 72, indicating strong buying pressure, as reported by TradingView. Additionally, the Moving Average Convergence Divergence (MACD) signalled continued upward momentum, with the MACD line crossing above the signal line shortly thereafter.
On-chain metrics also reflected a positive market sentiment, with the number of active XRP addresses increasing by 15% to 230,000 within an hour of the announcement. Furthermore, the average transaction value on the XRP ledger rose by 10%, suggesting heightened transaction activity. Collectively, these technical and on-chain indicators underscore a robust market response to Ripple’s philanthropic gesture.Share
