After just one month, the Ripple (XRP) liquidity index on the Mexican crypto-exchange Bitso doubled to over 6 million XRP.
The On-Demand Liquidity platform, known as ODL, had a liquidity index of 3 million XRP just last month, whereas now it seems to have doubled to a new all-time high of 6 million XRP.
— Liquidity Index Bot (@LiquidityB) November 18, 2019
This may be due to the continued expansion of Ripple’s new ODL customers around the world. After its implementation in Mexico, in fact, there have been new gateways opened in Australia, the Philippines and Brazil.
As is well known, the Bitso exchange is the main corridor between ripple and local Mexican pesos, XRP/MXN for facilitating national cross-border trade. Specifically, any currency traded in XRP is ready for liquidity even for Mexican pesos.
An excellent achievement for the third crypto per market cap which, however, does not find the same results in its price. In fact, in 2019 the price of XRP does not seem to have been able to ride the waves of the bullish crypto market, remaining in fact in the red zone.
A recent study had analysed the price fluctuations of the main cryptocurrencies, revealing that while all showed significant growth in 2019, XRP seems to have stabilised in its market value.
Despite this, XRP remains under monitoring. Just today, in addition to the new liquidity record, it seems that crypto observers have found a large transaction executed in XRP.
— Whale Alert (@whale_alert) November 18, 2019
The transaction amounts to 28,521,383 XRP, which is equivalent to the value of approximately $7.4 million that went from an anonymous wallet to the South Korean crypto-exchange Bithumb.
According to the general interpretation, it seems that the owner has made such a transaction to want to sell part of the portfolio.