The largest Mexican exchange Bitso is a partner of Ripple and MoneyGram in the On-Demand Liquidity (ODL) corridor to Mexico, where XRP trades against the local peso.
Three weeks ago, the Liquidity Index of XRP on this platform reached the level of $6,792,777. On Wednesday, this amount was exceeded by a higher figure.
XRP Liquidity Index hits the $7-mln mark
The previous all-time high for XRP on Bitso was reached on November 20, hitting almost $6,793,000.
On Wednesday, December 11, this value reached $7,095,831 as reported by the Twitter bot.
— Liquidity Index Bot (@LiquidityB) December 10, 2019
Despite the growth of XRP liquidity which is obviously a good sign for a crypto, the price of XRP remains in the red. However, it has recently managed to recover the $0.22 level, as per CoinMarketCap.
Meanwhile, another ODL corridor working with XRP has recently shown a rise – the one which wires funds to the Philippines via the local Coin.Ph crypto exchange.
150-mln XRP transfer between anonymous wallets
The Twitter bot Whale Alert that tracks large crypto transactions, including those made to scam projects, today detected a transaction of almost 150,000,000 XRP (that’s $32,560,178).
The funds were transferred from one unknown wallet to another.
? ? ? 149,999,900 #XRP (32,560,178 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) December 12, 2019
The XRP community often considers big XRP transactions like that to be a dump on the market and expects the coin’s price to plummet, since there are too many of XRP in circulation already.
Besides, every month Ripple releases 1 bln XRP from its escrow wallet. The CEO Brad Garlinghouse has a couple of times stated that these releases are necessary to increase XRP liquidity.
Nevertheless, a lot of community members with the person who now seems to have become a crypto influencer – Crypto Bitlord (@Crypto_Bitlord) – are not happy about it.