Ripple, being the third-largest cryptocurrency by market volume, keeps on getting accepted by large payment firms as well as the crypto community. The liquidity Index Bot informs that XRP’s liquidity has reached a new peak value on the exchange, Coins.ph.
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Liquidity via ODL Corridors
The On-Demand Liquidity (ODL) of the Ripple is making new records when comes to XRP’s liquidity. Ripple has partnered with payment giant, MoneyGram, to establish five different corridors. These corridors are working efficiently in three countries including the Philippines, Australia, and Mexico.
All these three corridors are making progress but at a slow pace. However, the XRP OLD corridor in Philippine set a new record today in terms of XRP’s liquidity. Breaking the previous record, liquidity of XRP touched the all-time-high mark of 6,041,940.
— Liquidity Index Bot (@LiquidityB) March 7, 2020
Similarly, the corridor by XRP to Australia also reached a new ATH, 4,808,058 while the total all-time high value is equal to 5,189,716.
Recently, the doors to Mexico opened to Ripple after the Mexican-based digital firm Bitso engaged in a partnership with Ripple and MoneyGram. As per the agreement policy, XRP will be converted to MXN to provide better liquidity of the digital asset.
Bárbara González Briseño, the head of finance at Bitso, said:
‘’We have the world’s largest liquidity of Mexican pesos to digital assets and are MoneyGram’s key exchange partner for remittances into Mexico.’’
‘’Just a few months after starting work with Ripple, we were able to offer a fully functioning solution to our partners. Since July 2019, we’ve seen a major increase in adoption as well as the volume of transfers we’re facilitating,’’ she added.
Ripple Price Could Surge
Ripple price value could see a boom as there are chances to increase in the adoption of the Ripple token after the Indian Supreme Court lifted the ban on crypto’s usage in the country. This would support the Ripple’s remittance services in India. A crypto maximalist commented over the recent advancement:
‘’Regulatory clarity was the final piece of the puzzle that was holding Ripple back from going after the Indian remittance market aggressively. Great for XRP.’’
Ripple is the only crypto project in the industry that is partnered with more than 300 banks across the world. All these reasons can trigger the coin value upward in the next coming years.