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XRP Liquidity Index on Bitso Hits Another ATH – Will MoneyGram Set Corridor to UAE?

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Tue, 01/21/2020 - 09:53
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Yuri Molchan
The XRP Liquidity Index on the largest Mexican Bitso exchange has reached a new all-time high, showing another surge in XRP adoption
XRP Liquidity Index on Bitso Hits Another ATH – Will MoneyGram Set Corridor to UAE?
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On January 20, some positive news landed for the community of XRP investors. The Liquidity index of this asset on the largest Mexican crypto exchange, Bitso, reached a new all-time high of 10,249,983.

Previously, the old ATH on Bitso was replaced with a new one on December 31, last year.

XRP liquidity index
Image via Twitter

XRP Liquidity index surges to a new high

The new all-time high that was achieved on Bitso yesterday totals 10,249,983. Bitso is a partner of the MoneyGram and Ripple giants in their financial and remittance corridor from the US to Mexico. Besides this, last year Ripple made a direct investment in Bitso.

1,382,002 is the current all-time high on MoneyGram’s XRP corridor to the Philippines. On Monday, the new high came close to the ATH but failed to beat it.

MoneyGram partners with UAE-based LuLu exchange

On Monday, the Ripple-funded MoneyGram giant announced that it had entered into a partnership with the UAE-based LuLu Financial holdings heavyweight and its LuLu crypto exchange. Apart from gaining the opportunity to use all of LuLu Financial's 200 branches around the world, it is also possible that MoneyGram will set up an XRP corridor to the UAE.

Related
Ripple’s XRP to Get Accepted by Amazon via BitPay Gift Cards

An upcoming expansion to the Indian market

Earlier still, MoneyGram struck a partnership with an Indian remittance giant EbixCash, apparently planning an aggressive expansion to India – the world’s biggest remittance market.

XRP price spikes 

On Tuesday, January 14, the third largest crypto finally managed to do what the XRP army had been expecting it to do for a long time – the price surged from under $0.20 to the $0.24 level.

Many in the XRP community are looking forward to much higher XRP gains this year. At press-time, the coin is trading at $0.2366, showing a rise of 2.11 percent, as per figures by CoinMarketCap.

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About the author

Yuri is a crypto 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 in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.