U.Today Franchise
F2Pool
0
📰 News
709 views

XRP Liquidity Index for ODL Corridor to Philippines Rises

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Yuri Molchan
    📰 News

    The index of liquidity for XRP-based corridor running on Ripple’s ODL to the Philippines has started rising

XRP Liquidity Index for ODL Corridor to Philippines Rises
Cover image via 123rf.com
Contents

The index of liquidity for XRP in one of the two active ODL corridors – the Coin.Ph exchange located in the Philippines – has started rising in volume.

The XRP Index for Philippines starts rising

At present, Ripple has two active corridors that use the ODL platform – one works in Mexico and the other one operates in the Philippines. The liquidity index on the XRP/MXN flow to Mexico surges frequently and has already seen an all-time high recently.

Now, the Twitter user @tenitoshi has shared data that the liquidity index for Ripple’s remittance corridor to the Philippines has also started rising.

XRP liquidity index rises Philippines
Image via Twitter

The XRP corridor to the Philippines has been operating via the Coin.Ph crypto exchange since September this year.

From September to October an increase in liquidity was observed on Coin.Ph but the reason turned out to be an inflow of local traders to the exchange.

XRP traders increase
Image via Twitter

👉MUST READ

XRP Price Fixes Below $0.22 While 25 Mln XRP Sent from Binance to CoinBase

XRP Price Fixes Below $0.22 While 25 Mln XRP Sent from Binance to CoinBase

‘The XRP market price depends on investors’

When a Twitter user in the comment thread asked whether XRP would now drop like it was when the Bitso ODL corridor launched in Mexico, approximately by 30 percent, @tenitoshi responded that the market price of XRP depends solidly on major investors. @tenitoshi also said that a massive increase in demand from market makers could take several years.

XRP liquidity comments
Image via Twitter

XRP Liquidity Index in Mexico hits its ATH

Earlier, U.Today reported that the index for XRP liquidity on the Mexico-based exchange Bitso (the biggest one in Latin America) reached an all-time high and exceeded 6.24 mln.

Currently, Ripple is working in a partnership with MoneyGram, the global remittance giant, and the Bitso trading venue to ensure the ODL corridor to Mexico that utilizes XRP.

At press-time, the XRP price has got back to the $0.22 level as per CoinMarketCap.

Join our Telegram channel to get news even faster!

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.

Recommended articles
CLOUD MININGPromoted
0
📰 News
1418 views

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Alex Dovbnya
    📰 News

    The Bitcoin price could soon touch $7,800 if bulls persist, but this move could be a short-lived one

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls
Cover image via u.today

Popular crypto trader Wendy O recently predicted that the price of Bitcoin would "rocket up" if it managed to surge above the $7,400 level. 

Bitcoin Price
image by @CryptoWendyO

Shortly after that, the BTC price did rise above the aforementioned level, currently sitting at $7,444, according to CoinStats data

Bitcoin Price
image by coinstats.app

If the aforementioned forecast turns out to be accurate, Bitcoin traders could soon see another fakeout, which would be similar to the one that took place on Dec. 4. As reported by U.Today, BTC printed a massive green candle in less than a minute, but this unexpected pump quickly evaporated.     

👉MUST READ

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Earlier today, multiple traders predicted that Bitcoin was about to make a big move in either direction, but $7,800 seems to be the main area of interest for them. The leading cryptocurrency hasn't touch this level since Nov. 30. 

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
CLOUD MININGPromoted