- Ripple earns U.S. recognition for major philanthropic contributions in 2024.
- 20 million XRP withdrawn from Upbit, sparking transfer speculation.
- XRP price rebounds after sharp dip, gaining over 2 percent.
Ripple has received official recognition from U.S. authorities for its philanthropic contributions, while XRP witnessed an unexpected large-scale movement that caught the attention of market watchers.
According to Ripple’s official X account, the San Francisco Business Times has listed Ripple among the top corporate philanthropists in the Bay Area. To underscore the accolade, the company released its 2024 Impact Report, a document that outlines Ripple’s financial backing for more than 70 nonprofit organizations and universities.
More than half of the recipients were granted multi-year commitments to advance blockchain development and drive financial inclusion.
In addition, Ripple has committed 1% of its profits to vital causes, with some of the funds channeled into disaster relief and community support. The report points out that the company contributed XRP to organizations such as World Central Kitchen to help victims of Hurricanes Helene and Milton.
Honored to again be recognized by the @SFBusinessTimes as one of the Bay Area’s Top Corporate Philanthropists!
Learn how Ripple gives back to our local communities in the 2024 Ripple Impact Report: https://t.co/M2TLf2K3PX
— Ripple (@Ripple) August 4, 2025
Also Read: SEC Just Dropped a Bombshell on Stablecoins-Here’s What You Missed
Massive XRP Transfer Sparks Market Speculation
While Ripple was celebrating its recognition, XRP made headlines after a massive transfer from a major South Korean crypto exchange. Whale Alert, the widely followed on-chain tracker, noted a 20-million-XRP withdrawal from Upbit to an unidentified wallet. Worth more than $60.5 million, the transaction ignited speculation across the crypto community.
Although the shift may be classified as an internal transfer handled by the exchange itself, no proof has yet been presented to that effect. Lack of formal explanation has only heightened curiosity about the movement of XRP holdings.
In the period after the transfer, XRP surged 2.43% over the past 24 hours, trading at $3.07 and recording an 11.31% rebound after last week’s 13% decline. The timing of the transfer, together with the resulting price movement, has ignited fresh market discussion.
Ripple’s rising influence via social initiatives has won recognition from authorities, thereby bolstering its public image. At the same time, the sudden 20 million XRP transfer has stirred curiosity and attention around the digital asset’s market activity.
Also Read: Pro-Ripple Lawyer Reveals Firms Quietly Adding XRP to Balance Sheets via SEC
