- XRP liquidity once again reaches new highs on two pairs.
- RippleNet provides on-demand liquidity for global financial institutions.
RippleNet is a financial platform that offers institutions with on-demand-liquidity at cost-effective prices. RippleNet provides liquidity in over 40 different currencies.
Two out of three XRP liquidity pairs have skyrocketed and surpassed their all-time liquidity highs. What’s more, is that all three pairs have already recently reached all-time highs.
The XRP/MXN and XRP/AUD corridors have surpassed their all-time highs in both the Australian and Mexican corridors.
The increased liquidity is most likely attributable to two main reasons: partnerships and COVID-19.
Ripple’s services are currently used in over 40 countries and 350 financial institutions. The platform’s extensive network of partnerships, bolster the platform’s reach. Furthermore, RippleNet’s recent partnership with Bitso, one of the largest Mexican cryptocurrency exchanges, has likely contributed to the large liquidity increase in the XRP/MXN liquidity.
As XRP liquidity once again reaches new highs, other monetary factors come into play. With Coronavirus COVID-19 testing the limits of the current financial system, RippleNet offers quicker, cheaper, and reliable services. Furthermore, amid COVID-19 many institutions are operating at limited capacity and consequently, offering limited financial services. However, RippleNet utilizes the blockchain and thus independent from world events. As a result, RippleNet adoption may increase during unprecedented times like these.
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