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XRP liquidity on ODL platforms declines in 2020

XRP indexes saw liquidity drop in April

Although the value of XRP is restricted to $ 0.19, ODL platforms remained highly active in 2020. However, the indices that reported the highest liquidity until the end of each month in 2020 witnessed low liquidity in April.

XRP / MXN

Source: Liquidity Index Bot

XRP / MXN was the oldest active index among the three indexes. It has been active since 2019 and started 2020 with 9.053 million of liquidity. The index rose to 14.902 million in liquidity at the end of January. At the same time, the price of XRP was receiving market support, since XRP was valued at $ 0.23887 at the end of the month.

In February, there was a bull run in the market carrying the third largest currency up to the peak of 2020 at $ 0.3491, while March dragged the price of the cryptocurrency back to $ 0.1000. Despite volatility in the spot market, liquidity on ODL platforms remained active and closed higher in late February and March. The XRP / MXN index marked ATH (historic high) on April 16, 2020, with 33.537 million in liquidity. In the following days, liquidity fell and, at the end of the month, it would be the first month when liquidity was closing down.

XRP / PHP

XRP liquidity on ODL platforms declines in 2020 25

Source: Liquidity Index Bot

XRP / PHP gained momentum in 2020 as it scored an ATH on April 10 at 11.508 million. This increase in liquidity in the corridor was reduced in one go. The liquidity reported in the index on April 1 was 7.146 million, which was reduced to 4.793 million on April 26.

XRP liquidity on ODL platforms declines in 2020 26

Source: Liquidity Index Bot

The XRP / AUD was the recently activated index, which registered a negative start in the year for market liquidity of -189,898. However, the extensive use of the index generated liquidity on the platform, at the end of January, with 3.094 million liquidity. As market liquidity reached one million, it continued to mark subsequent historic highs. There was a consistent increase in liquidity on the platform in April, when the month started with 7.380 million and marked an ATH on April 17 with 14.427 million.

However, like other indices, liquidity shrank to 8.540 million on April 26.

Cross platform volume

xrp

Source: Utility Scan

Meanwhile, USD / MXN has been the most liquid and active network, as it records a strong volume between the two countries on a daily basis. According to the utility utility data provider, the USD-MXN corridor registered $ 3.146 million. While the AUD-USD corridor overtook USD-PHP in second place, its daily volume was $ 1,570 million. USD-PHP did not reflect much activity on the ODL platform, as the daily registered volume was $ 304,221.

Source: AMB Crypto

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