XRP Liquidity Reaches New Highs
Summary
- XRP liquidity reaches new highs on multiple pairs.
- RippleNet provides on-demand liquidity for global financial institutions.
XRP liquidity reaches new highs on all three XRP pairs as volumes across the US/Mexico corridor pick up. This liquidity represents the growing use of Ripple’s On-Demand Liquidity Platform, RippleNet.
All three XRP liquidity pairs have been picking up steam, reaching an all-time liquidity high. This liquidity represents the amount of Ripple flowing through these pairs/corridors.
For example, the highest growing pair XRP/MXN, is likely a result of Bitso and Moneygram’s partnership with Ripple. As a result, RippleNet now provides millions of dollars in on-demand liquidity to Mexico, one of its largest customers.
It is possible that COVID-19 is fueling demand as banks are in a sudden need for liquidity. With over half of the globe in lockdown, cross-border payments have become slower as banks are operating with less staff. However, RippleNet utilizes the decentralized blockchain and is not dependent on centralized services.
What is RippleNet
RippleNet is a platform that provides financial institutions with quick and reliable access to liquidity at a cost-effective price. This helps enables seamless and streamlined cross-border payments and transfers. The platform now has over 300 customers in over 40 countries.
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