Cryptocurrency

Ripple ODL on the rise – XRP reaches new all-time high in the payment corridors

Ripple is working on the Adoption of its On-Demand Liquidity (ODL) payment solution, by using the XRP cost-effective and fast international transactions. In the last year, the XRP transaction has increased the volume of ODL enormous. This already shows the interest and the actual Use Case very clearly. More companies could follow this interest and, in the future, ODL in combination with XRP accept. According to the data from the Liquidity Index of the Bot on Twitter, is the trading volume in certain ODL-payment corridors, to a new all-time high.

XRP reached new all-time high in ODL

The main Usecase of XRP on the role as a bridge currency in the international payment traffic. This provides, in theory, banks and payment service providers enormous advantages. As the Name of the ODL already suggests, it is liquidity that is needed on a short notice and XRP provided. With ODL, the total can be used to reduce risk in the provision of liquidity and huge savings to be made.From the data of the Liquidity Index Bots in the ODL-payment corridors for the Philippines and Australia, respectively, a new all-time high was reached. This pair XRP/PHP have been in the Trade for a transaction volume of 7.419.715 XRP and trade some XRP/AUD reached a transaction volume of 6.417.460 XRP.In the following illustrations you can see the growth in the last few days:

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Connection between ODL and XRP price

We can see from the illustration, that the transaction has decreased volume in both corridors in February and the end of the month again tremendously has risen. This could perhaps be related to the fact that many people get their salaries at the end of the month and thus, the ODL-payment solution use, cost transfer, cheap money in the home.In addition, it is the amount of XRP that have been used for transactions. Thus, the transferred amount also depends on the respective course. In the case of a lower XRP price, I have to use more XRP to transfer my amount X from A to B and vice versa. Thus, the fluctuations associated with the volatility of the Ripple exchange.In the end, there is still no provable connection between the use of XRP in the context of ODL, and a concomitant increase in XRP. Last year, the transaction has increased the volume of ODL, for example, extremely and however, the XRP price has fallen by about 50%. Therefore, we are eager to see how Ripple can argue with his solutions for banks and payment service providers and whether this will have a positive impact on the Ripple exchange.Will Ripple with its payment solutions in the industry prevail? What will be the impact for the XRP price?Come on in to our Telegram Chat and talk with the experts and the Community!
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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.