Ripple’s cross border settlement product, xRapid – which provides on-demand liquidity with use of the XRP token as intermediate between currencies has seen slow but steady implementation over the past few months. Many expected 2019 to be a breakout year for the product, with the price being reflected in the price of XRP, but the impact has been far from significant. Ripple have introduced new payment corridors this year, with the US-Mexico corridor being one of them. Mexican crypto exchange Bitso has recently seen a steady gain in XRP/MXN trading volume over recent weeks. Ripple’s recent acquisition of MoneyGram looks to have had a positive impact on the steady increase in volume.
Although trading volume cannot be considered to be anything significant, with the new all-time high set being a relatively moderate $509, 764 over 24h, it is the continued increase in trading volume that provides an optimistic outlook for XRP investors.
The latest liquidity index on Bitso XRP/MXN.
The index is shown in XRP (blue) & MXN (red).
— てにったー (@tenitoshi) September 13, 2019
Once more xRapid corridors are live and the true impact of SBI is seen, and trading volume reflects this, then the price of XRP should follow suit.
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