XRP Liquidity Index on Bitso drops to 4.73 million after continuous ATHs - AMBCrypto
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XRP Liquidity Index on Bitso drops to 4.73 million after continuous ATHs

Sahana Kiran

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Source: Pixabay

Ripple has been all over the news; Swell conference may have played a role in this. Now, XRP makes headlines over its ever surging On-Demand Liquidity [ODL].

XRP liquidity index has been encountering new all-time highs almost every single day. This has been possible due to XRP ODL system on its Mexican corridor Bitso. More recently, XRP’s liquidity index hit a high of 5.32 million XRP. However, after registering an array of all-time highs, the liquidity index of XRP fell down to 4.73 million in just a day.

Twitter handle, Liquidity Index Bot, tweeted about Bitso’s Liquidity Index and the latest dips in XRP’s liquidity was also noted in its latest post. The tweet attested,

It can be incurred from the chart that the liquidity index of XRP had previously undergone significant fluctuations especially in the months of July, August, and September. However, since October, the liquidity index has been surging while recording new all-time highs, with no major fluctuations.

According to CoinMarketCap, trading pair, XRP/MXN constituted more than half of the exchange’s volume, precisely, 79.69%, at the time of writing. This is about a 7.51% increase since last week. BTC/MXN stood second with only 16.32% volume on the exchange. Other prominent cryptocurrencies like LTC and ETH were lagging far behind with scanty volume.

Seems like the XRP ecosystem is having a bad day as the price of the altcoin was also seen falling by 1.11% in the past 24-hours. Several influencers of the Ripple and XRP community have been hoping for the price of XRP to hit $0.3000, however, at the time of writing XRP was trading at $0.2776.

Sahana is a full-time journalist at AMBCrypto covering the US market. A graduate in Political Science and Economics, she writes mainly about regulations and its impact.