San Francisco-based blockchain company Ripple has donated $100,000 worth of XRP to help California wildfire relief efforts. The funds will support nonprofits like World Central Kitchen and Direct Giving. These organizations provide meals to first responders and provide financial assistance directly to those affected. The donation will be managed through The Giving Block, a platform that allows charities to accept cryptocurrencies.

The wildfires caused widespread devastation. They displaced tens of thousands of people, destroyed more than 12,000 structures, and killed at least 24 people. Economic losses were estimated at between $250 billion and $275 billion, making the wildfires one of the costliest in U.S. history. Areas like Malibu and other prominent communities were severely affected. President Joe Biden announced a one-time payment of $770 to those affected to help them recover.

Ripple has previously donated RLUSD
This donation is not the first time Ripple has helped with wildfire relief. Last week, Ripple donated $50,000 worth of stablecoin RLUSD to the Los Angeles Fire Department Foundation (LAFDF). The donation supports first responders working on the front lines. The Giving Block, which Ripple is partnering with for this donation, will match $1 for every dollar donated, up to $1 million. This will double the impact of donations to wildfire relief.

Ripple has a history of supporting various causes. During the COVID-19 pandemic, the company donated $200,000 to nonprofits that help communities in need. Recently, Ripple also donated $1 million to John Deaton’s Senate campaign. The donation is aimed at challenging Senator Elizabeth Warren, who is one of the most public critics of the cryptocurrency industry.

Other businesses also contributed to wildfire relief
In addition to Ripple, several other companies and individuals are also helping with wildfire recovery efforts. Airbnb, Walmart, Disney, and Verizon have all made contributions. The entertainment industry has also responded. Sony Music Group and Universal Music Group canceled Grammy Awards-related events to reallocate resources to wildfire victims. Celebrities such as Eva Longoria donated seven-figure sums to support relief efforts.

XRP price rises by 12% in the past 24 hours
While providing assistance, Ripple has also made progress in the cryptocurrency market. On Tuesday, the price of XRP rose by 5%. Analysts at JPMorgan Chase predicted that if approved by the U.S. Securities and Exchange Commission (SEC), XRP ETFs could attract up to $8.4 billion in inflows in the first year. Ripple's XRP token now has a target price of $2.86, close to its all-time high of $3.84 set in 2018.

Ripple is currently in a legal dispute with the U.S. Securities and Exchange Commission (SEC). The SEC plans to file a disclosure statement on Wednesday as part of the appeal of Ripple's case against the SEC. Ripple's chief legal officer Stuart Alderoty said the company had requested an extension to file the documents, but the SEC refused. If the SEC fails to file the documents by the deadline, the previous judgment in favor of Ripple will remain in effect.