XRP Liquidity Index Hits New All-Time High, 150 mln XRP Anonymous Transfer Detected by Whale Alert

News
Thu, 12/12/2019 - 10:07
Yuri Molchan
The Liquidity Index of XRP on the Mexican Ripple’s partner Bitso exchange has reached a new all-time-high blasting past the $7-mln mark
Cover image via 123rf.com
Contents

The largest Mexican exchange Bitso is a partner of Ripple and MoneyGram in the On-Demand Liquidity (ODL) corridor to Mexico, where XRP trades against the local peso.

Three weeks ago, the Liquidity Index of XRP on this platform reached the level of $6,792,777. On Wednesday, this amount was exceeded by a higher figure.

XRP Liquidity Index hits the $7-mln mark

The previous all-time high for XRP on Bitso was reached on November 20, hitting almost $6,793,000.

On Wednesday, December 11, this value reached $7,095,831 as reported by the Twitter bot.

Despite the growth of XRP liquidity which is obviously a good sign for a crypto, the price of XRP remains in the red. However, it has recently managed to recover the $0.22 level, as per CoinMarketCap.

Meanwhile, another ODL corridor working with XRP has recently shown a rise – the one which wires funds to the Philippines via the local Coin.Ph crypto exchange.

Related
Almost $9 Bln in Bitcoin Transferred, Reports Whale Alert, XRP Can't Do That, Bitcoiner Says

150-mln XRP transfer between anonymous wallets

The Twitter bot Whale Alert that tracks large crypto transactions, including those made to scam projects, today detected a transaction of almost 150,000,000 XRP (that’s $32,560,178).

The funds were transferred from one unknown wallet to another.

The XRP community often considers big XRP transactions like that to be a dump on the market and expects the coin’s price to plummet, since there are too many of XRP in circulation already.

Besides, every month Ripple releases 1 bln XRP from its escrow wallet. The CEO Brad Garlinghouse has a couple of times stated that these releases are necessary to increase XRP liquidity.

Nevertheless, a lot of community members with the person who now seems to have become a crypto influencer – Crypto Bitlord (@Crypto_Bitlord) - are not happy about it.

 

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, can be contacted at yuri.molchan@u.today.


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