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XRP Index of Liquidity About to Set New Records in Two Largest Corridors

News
Sat, 01/25/2020 - 12:02
Yuri Molchan
The third largest coin keeps gaining traction when it comes to liquidity, thanks to the global MoneyGram payments service provider that uses Ripple’s ODL
Cover image via 123rf.com

Ripple’s XRP has come close to breaking another record regarding its index of liquidity on the two ODL corridors set up by MoneyGram – in Mexico and the Philippines.

In Mexico, this corridor goes through the biggest local digital trader Bitso. Ripple also invested in this company last year to fund its further development.

As the MoneyGram chief executive Alex Holmes stated last year during the Ripple’s SWELL major conference in Singapore, as of then, around 10% of all transactions MoneyGram made to Mexico were conducted using Ripple’s XRP.

The global payments service run by Holmes uses Ripple’s On-Demand Liquidity (ODL) platform.

In the Philippines, the corridor goes through the Coins.ph crypto trading platform.

The current ATH of the XRP Liquidity Index on Bitso totals 11,138,681. The current trading volume has come real close to getting over this figure and at press-time it equals 10,419,890.

Image via Twitter

The current all-time high on Coins.ph is also about to be surpassed. The day progress is 42% so far.

Image via Twitter

Crypto investors look forward to every new milestone (even a tiny one) to do with XRP, since they hope this will help push the coin’s price up.

But so far, it has not worked. The recent XRP price rise was brief and the coin is trading flat in the $0.21 area again, as per the data from CoinMarketCap.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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