- XRP liquidity is nearing the all-time high in two ODL corridors.
- THE MXN, AUD, and PHP pairs reached an all-time high earlier last month.
According to the Liquidity Index Bot on twitter, liquidity for two of Ripple’s ODL corridors is nearing all-time highs. This comes as three of Ripple’s corridors recentely surged past their all-time highs last month.
The surge in liquidity comes as the world moves digital due to coronavirus. The increasing digital reliance may play a part in the rapid growth of Ripple’s RippleNet platform. Furthermore, Ripple’s list of partnerships has only grown this year.
In 2019, Ripple launched its on-demand-liquidity (ODL) with Moneygram and Bitso into Mexico. The Mexico corridor has been already been showing signs of strong growth in the first half of 2020.
The Mexican corridor has the largest market liquidity out of the three corridors displayed on the Liquidity Index. The XRP/MXN pair reached an all-time high earlier last month. Shortly after reaching a new high, the liquidity plummeted and has since made a strong recovery.
While the corridor has not yet surpassed its all-time high, the liquidity value has been consistently holding the 30,000,000 level. During the last all-time high, liquidity spiked and then dropped significantly. However, liquidity in the corridor is now staying relatively stable at 30 million.
Similar to the Mexico corridor, the Australia corridor has seen significant growth in 2020. The XRP/AUD pair has also made a strong recovery following the liquidity drop last month. The pair is now consistently holding the 13,000,000 level nearing its prior all-time high of 14,427,181.
Disclaimer: Content displayed on thecryptoassociate.com is not investment advice. Investors should do their own research before investing in digital assets or anything displayed on this site. The Crypto Associate does not recommend trading any sort of investment in cryptocurrencies and digital assets. The Crypto Associate is not responsible for any losses incurred due to the buying or selling of cryptocurrencies displayed on this site. All content is for informational purposes only. The Crypto Associate does not endorse, affiliate or represent any third-party links including advertisements. The Crypto Associate participates in affiliate marketing. Read the full disclaimer