Summary

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.

Increased Liquidity

Liquidity Index for BTC Markets XRP/AUD (28-day moving trend)

Day progress: 67%

Today so far: 14,744,848

All Time High: 12,456,987

Data: https://t.co/zlBcWd0sYI pic.twitter.com/NPYtjhZewK — Liquidity Index Bot (@LiquidityB) April 16, 2020

Liquidity Index for Bitso XRP/MXN (28-day moving trend)

Day progress: 67%

Today so far: 33,608,255

All Time High: 31,514,757

Data: https://t.co/v07j0Xh3s1 pic.twitter.com/kaeLcXAgyY — Liquidity Index Bot (@LiquidityB) April 16, 2020

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.

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