XRP Liquidity Indexes Surging as XRP Hits $0.37

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Sat, 11/21/2020 - 08:58
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Yuri Molchan
As XRP has skyrocketed to the $0.37 mark and some of its liquidity indexes are now surging as well, meanwhile XRP market cap size is catching up that of Tether
XRP Liquidity Indexes Surging as XRP Hits $0.37
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The fourth biggest cryptocurrency XRP is trading at the $0.37 level, showing a rise by over 24 percent.

This is the highest level XPR has taken in 2020 so far.

XRP soars to $0.37

On March 13, XRP collapsed to $0.13 (along with Bitcoin losing almost 50 percent of its value). Since then, XRP has several times breached $0.33 but has ventured to the $0.37 level only now as Bitcoin is firmly trading in the $18,700 area.

XRP
Image via Twitter

XRP Liquidity Indexes on the rise

XRP liquidity indexes on Ripple’s ODL platforms have been in the lows for the whole year and only now they have started to show a moderate rise.

On the Mexico-based Bitso exchange, which is the ODL corridor for the XRP/MXN pair, with the daily progress of 29 percent so far, the index totals 11,132,176 with the latest all-time high of 38,168,036.

As for the Luxembourg-based Bitstamp platform, this figure amounts to 9,959,444 with the latest all-time high of 35,746,047.

Liquidity Index Bot on Twitter also provides data from the BTC Markets and Coins.ph exchanges but the figures remain low so far.

Related XRP Hits $0.31 Yet Another Time This year
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XRP Hits $0.31 Yet Another Time This year

XRP is catching up with Tether

As the XRP rate is rising, so is its market cap, the coin is targeting the top three place lost to Tether’s USDT a few times this year.

On Friday, the difference between the market caps of XRP and the most popular USD-backed stablecoin totalled around four billion USD.

Now, this difference is approximately $2 billion.

XRP
Image via 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.