Several XRP Liquidity Indices Are Surging After Falling From All-Time High
Quick Read
- Several XRP liquidity indices are surging after falling from their all-time highs.
- Ripple’s On-Demand Liquidity (ODL) solution has seen massive volume growth in H1 2020 compared to H1 2019.
After falling from all-time highs earlier this year, several XRP liquidity indices are surging according to Liquidity Index Bot.
The liquidity index for the XRP/MXN corridor saw an all-time high of 38,168,036 in early June after dropping considerably the same month. However, the XRP/MXN corridor has seen a recent rise past 10,000,000 and has been holding the level for several days.
The liquidity index for the XRP/EUR corridor saw an all-time high of 35,746,047 in April. The index fell substantially in June staying well below the 10,000,000 level. However, the index has seen a recent surge to near the 7,000,000 level.
The liquidity index for the XRP/AUD corridor has seen a strong rebound thus far since falling from its all-time high of 16,089,305 in June. The index currently stands at 6,524,447.
Ripple ODL Sees Massive Volume Growth in H1 2020
As reported previously by The Crypto Associate, Ripple’s ODL solution has seen massive volume growth in H1 2020 compared to H1 2019 according to the Q2 2020 XRP Markets Report.
In Q2 2020, ODL accounted for nearly 20% of RippleNet volume. Comparing just H1 2019 with H1 2020, RippleNet experienced 11x year-over-year growth in ODL transaction volume.
Q2 2020 XRP Markets Report
Ripple’s On-Demand Liquidity (ODL) solution allows participating institutions to source near-instant liquidity 24/7 while offering immense cost savings. Ripple notes ODL can result in up to 60% cost savings while only taking three seconds to settle.
Cover image by Samuel-Elias Nadler on Unsplash
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