XRP Boost: Institutional Trading Brings Higher Liquidity To Ripple’s ODL

Ripple is making increased efforts to boost the complete XRP ecosystem and also to push the mainstream adoption of XRP.

2019 was not the best year for the price of the digital asset, and 2020 was expected to be more successful pricewise.

At one point, XRP was even able to surpass the $0.33 important level, but then, the crypto market saw a significant fall back in March.

Overall, the crypto market is recovering pretty amazingly. At the moment of writing this article, XRP is trading in the green and the coin is priced at
$0.195560.

Institutional traders bring liquidity to Ripple’s ODL

It’s been just revealed that institutional traders bring greater liquidity to Ripple’s ODL which is powered by XRP.

ODL is the On-Demand Liquidity product, which was previously known as xRapid.

Ripple VP Breanne Madigan says that XRP liquidity is the “lifeblood” of ODL – this is lowering the risk and cost of each cross-border transaction.

“The continued growth of ODL has led to an expanding number of financial institutions, payment providers, and market-makers to trade in XRP. The resulting increase in institutional trading volume has helped to bring further liquidity to XRP,” she said.

The online publication the Daily Hodl brought up Bitso, which is the largest crypto change in Mexico – they managed to expand their reach with the help pf ODL, and this also boosted the XRP/peso volume as well.

Non-ODL partners can also help

Another important thing that’s worth mentioning is the fact that Madigan says that exchanges that aren’t ODL partners also have the ability to boost the XRP liquidity.

“But even non-ODL partner exchanges like Kraken or Coinbase will contribute to increased liquidity. As non-ODL partner exchanges continue to grow more mainstream, larger institutional traders will begin transacting in XRP, making order books – including ODL order books—more liquid.”

We recommend that you check out more about what she had to say in the original notes.


Coins Mentioned

XRP

XRP

Companies Mentioned

CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

Coinbase

Coinbase is a digital currency exchange headquartered in San Francisco, California.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

1929 Articles

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