Ripple and its native cryptocurrency XRP have been doing positive rounds in the cryptocurrency space for some time now despite the bearish price crashes. One of XRP’s primary specialties has been its ability to reflect growth in its other parameters across new regions. A couple of weeks ago, it was reported that XRP’s market volume on exchanges like Bitso was on record-breaking uptrends, a phenomenon which was later overshadowed by the arrival of the bear.
Recently, H_M_X, a cryptocurrency enthusiast spotted that the largest ODL transaction conducted on CoinsPh, was clocked at 250,000 XRP. This high value was achieved at a rate faster than it took on Bitso. The latest destination tag record on Bitso was 25,370,527, while the highest total amount of transactions was 485,127 XRP.
Not only that, ODL destination tag 158068 (highlighted) is back after a long pause. pic.twitter.com/KjTvGgnEdn
— H_M_X_ (@hmatejx) December 5, 2019
Looking at the same metrics for Coins Ph, the destination tag was recorded at 255,406, while the most significant transaction was the most recent one of 250,000. Several members of the community praised Ripple’s initiatives to grow the On-Demand Liquidity market recently with ‘blcurley’ tweeting:
“Ripple used to have large lag times from a customer acquisition to the software implementation. Through time & experience, they have streamlined these processes to get customers up & running in a short amount of time. I’m expecting the same with #ODL and new corridors.”
Despite the developments in the space, XRP has not seen much of a rise on the price front as the cryptocurrency was holding at one of its lowest measures across an extended time period. At press time, Ripple’s XRP was exchanging hands for $0.22 with a total market cap of $9.657 billion.
The third-largest digital asset on the charts held a 24-hour market volume of $1.416 billion. During the research, it was also noticed that the number of total interchange XRP payment transactions had risen towards earlier crests. The ODL destination tag had surpassed the 158068 after a long time, giving the XRP army hope that the asset would begin an ascend soon.
November was also an exciting month for XRP and its technologies, such as xRapid. ON November 7, the total XRP ODL saw a rise from its earlier average of $1 million to almost $2.2 million. This transaction occurred between Bitstamp, which counts as the US corridor for xRapid transactions and Bitso, which counts as the corresponding Mexican corridor.
Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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