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XRP Liquidity Index for ODL Corridor to Philippines Rises

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Wed, 4/12/2019 - 15:11
XRP Liquidity Index for ODL Corridor to Philippines Rises
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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.

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

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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.

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‘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.

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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.

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