Despite its intense battle with the U.S. Securities and Exchange Commission (SEC), blockchain startup Ripple is flexing its arms by seizing any good opportunity that’s available in the market. In the latest development, Ripple has joined hands with Elon Musk’s partner at SpaceX – Jared Isaacman.
The billionaire founder of Shift 4, a payments processing company, journeyed to Earth’s orbit aboard SpaceX’s Crew Dragon capsule in 2021. In a recent update, Ripple has officially revealed its partnership with Isaacman for a donations project.
Ripple has made an official announcement about its collaboration with Isaacman in the XRP and cryptocurrency donations project for the Maui Emergency Response Fund. As part of this initiative, XRP has been included as one of the cryptocurrency donation options available to charities through The Giving Block, a cryptocurrency donation solution provider. The blockchain startup added:
“Ripple will be joining Shift4 CEO Jared Isaacman and the next $50K USD in any crypto donations made to the Maui Relief Fund will be matched 200%.”
The partnership involves Donation Matching, where one party matches the contributions made by another. In this instance, Ripple has committed to matching contributions, alongside Isaacman, by doubling the value of cryptocurrency donations received, up to a total of $50,000.
While this collaboration doesn’t definitively indicate a close connection between SpaceX’s partner and Ripple, it raises the possibility of further developments. Elon Musk is renowned for his tweets about Dogecoin, and his tweets had a significant impact on the cryptocurrency market during the 2021 bull run. Both SpaceX and Tesla even introduced the option to pay with Dogecoin for their merchandise on their respective websites.
One of the biggest hurdles ahead of Ripple is getting absolute clarity on its legal battle with the US SEC. Many market players are waiting for absolute clarity to make a full-fledged bet on Ripple. Ripple is currently holding the edge in the case, and if it wins, it could catalyze the institutional adoption of Ripple’s blockchain and crypto solutions in the market.
There are strong speculations that Ripple could be announcing its settlement with the US SEC later this month during its victory party in NYC on September 29. If things fall through as intended, it could mean strong demand for the XRP cryptocurrency going ahead.
On the other hand, Ripple continues to focus on expanding its footprint in the overseas market with more hirings. Some analysts are very much bullish on Ripple’s future and believe that the company can grow to the size of Amazon, Google, or Apple, in a few decades.
