Ripple’s XRP transaction volume created a new milestone in the Philippines and Mexico
Ripple, the third-largest cryptocurrency by market capitalization, has recently renamed its payment technology, On-Demand Liquidity (formerly xRapid). It has achieved a new record of volume liquidity against the Philippine and Mexican peso in the last quarter of 2019 with a 650% increase in transaction volume.
Emerging countries support the application of digital payment systems such as those offered by Ripple. Since the launch of ODL, the demand for XRP has increased rapidly and is attracting to establish itself as one of the leading digital assets for cross-border payment services with lower commission costs.
New milestone in the Philippines and Mexico
According to statistics published officially on Liquidity Index Bot’s Twitter account, the transaction volume of the XRP has reached a new milestone, compared to the peso of Philippine and Mexican, in the Coins.ph and Bitso crypto exchange.
Liquidity Index for Coins.ph XRP/PHP (28-day moving trend). Source: Liquidity Index Box
The Coins.ph transaction volume of the XRP/PHP pair has reached a new position, reaching 1,442,610, and obtaining a percentage increase of 42%.
Liquidity Index for Bitso XRP/MXN (28-day moving trend). Source: Liquidity Index Box
The Mexican exchange Bitso has also archived a new peak of liquidity, touching 11,138,681, which has meant a fantastic gaining since launching in October 2019. Currently, the volume of liquidity on the Mexican exchange reaches 10,398,056.
Both Bitso and Coins.ph are the technology offered by Ripple, so it is obvious that throughout the year, customers will continue to increase the volume of XRP liquidity on these exchanges. Moreover, it is probable that other countries will also seek this type of digital alternatives.
Ripple could go public this year as XRP sales decrease
It is worth mentioning that XRP token sales had declined significantly in the last quarter of 2019, by over 80%. This has probably been one of the main reasons why the demand for liquidity from ODL has grown considerably.
As AZCoins News reported, Ripple said IPO would be considered and launched an IPO within the next 12 months. We can absolutely believe that the launch of an IPO could be one of the events of the year, and it would bring Ripple closer to institutional investors and become a key catalyst in the cryptocurrency market as well.