Ripple XRP breaks new record at Bitso

Ripple XRP breaks new record at Bitso

Ripple XRP breaks new record at Bitso

Ripple XRP has reached a new record for Bitso on the liquidity index. The digital asset of Ripple XRP is in a fairly good position. Experts note a chance for significant growth in a certain future. Many organizations are actively integrating Ripple XRP. Now on the Bitso exchange, Ripple XRP has a new record, namely an excess of 4 million in liquidity index.

Ripple XRP breaks a new record at Bitso: Details

Ripple XRP has reached a new record on Bitso, and the liquidity index of this digital asset on the Mexican exchange now exceeds 4 million XRP. Ripple’s third-quarter report showed a significant increase in demand for liquidity on demand. In the fourth quarter, the liquidity system at the request of Ripple XRP recorded a significant increase through the Mexican corridor, which subsequently led to a directly proportional increase in the XRP liquidity index and exceeding its previous record highs.

Ripple XRP breaks a new record at Bitso

The Ripple XRP Liquidity Index is now 4.14 million. Such a report on Ripple XRP was published by the Liquidity Index Bot, which on Twitter shows snapshots of the Bitso liquidity index. It is worth noting that the first surge in liquidity for the Ripple XRP in the Mexican corridor was recorded in September. Then this led to the move of the BTC / MXN trading pair to the second position. After that, growth continued. In October 2019, the Ripple XRP liquidity index on Bitso paired with the Mexican peso was already 3 million. Now Ripple XRP has a new record, which at the time of verification amounted to 72.18% of the total liquidity on the platform. In second place is the BTC / MXN pair, which accounts for 22.02%, according to records from CoinMarketCap.

It is worth noting that Ripple indicated in the third-quarter report that it was shifting attention to strategic partners. This, in particular, led to the fact that Ripple invested some funds in Bitso, which were intended to contribute to the further growth of the ecosystem. This meant an increase in liquidity for payments in the Argentine and Brazilian markets. Mexican exchange Bitso is a key player in the US-Mexican channel of the Ripple network, serving more than 750 thousand customers. Given the increase in the turnover of the Ripple Mexican corridor, there are suggestions that the company may switch to a new liquidity platform on demand. However, Ripple has not made any official statements in this regard.

About Viktor Sokolov 163 Articles
Nerd, entrepreneur & coffee aficionado. Believes that blockchain infrastructure and bitcoin will be the money system of the coming decades. Trying to make visible what this means for technology, economy, companies and societies.

Be the first to comment

Leave a Reply

Your email address will not be published.