💶 Ripple Donates $1 Million to Pro-Crypto PAC Amid XRP Price Surge
Ripple Labs has donated $1 million to the Commonwealth Unity Fund, a newly established super political action committee (PAC) spearheaded by pro-crypto advocate James Murphy, also known as MetaLawMan. This PAC aims to influence the upcoming Senate race in Massachusetts by supporting John Deaton and opposing anti-crypto sentiments represented by Senator Elizabeth Warren.
🔸 James Murphy’s Call to Action
James Murphy, expressing his gratitude for Ripple’s support, emphasized the critical nature of the upcoming election in advancing pro-crypto policies. He urged the XRP community, including the fervent XRP army, to rally behind John Deaton’s candidacy and contribute to the Commonwealth Unity Fund’s efforts.
The Commonwealth Unity Fund has received contributions from Ripple totaling $1,050,020, as the Federal Election Commission reported, Strengthening the PAC’s financial position. As of June 30, the PAC had $909,405 in cash, providing substantial funding for its political activities.
Ripple’s involvement in political contributions extends beyond the Commonwealth Unity Fund. Previously, the company donated $50 million to Fairshake, another non-authorized PAC focused on promoting technological innovation and crypto-friendly legislation in the United States. However, Fairshake faced scrutiny from some corners of the crypto community for not aligning with John Deaton’s electoral campaign goals.
🔸 Market Response and XRP’s Performance
Amidst favorable advancements in the ETF market, the price of XRP increased by 3% on the last day. With a 56% increase in trading volume, XRP currently trades at $0.5385. Over the course of a day, it reached a top of $0.5682 and a low of $0.5241.The Chicago Mercantile Exchange (CME) and CF Benchmarks have announced new reference rates and real-time indices for XRP, and this price increase corresponds with their releases.
