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Ripple’s ODL platform to Australia spikes in liquidity to register ATH

Source: Pixabay

Ripple‘s on-demand liquidity [ODL] platform has been forming partnerships and opening gateways across the world, however, only a handful of these are known to the public. However, the active corridors have been reflecting consecutive highs over the past few days, indicating a driven interest in cross-border payments.

The newest corridor that became active around 8 January, XRP/AUD has been registering an ATH for the past ten days and noted liquidity of almost 1.8 million XRP, equivalent to $408,780.

Source: Twitter

Source: Twitter

According to @hmatejx‘s representation of ODL services, the corridor reflected a weekly flow of nearly $2 million, while the monthly flow stood at $7 million. Ripple’s corridor to the Philippines also recorded ATH for five consecutive days.

Source: Twitter

Source: Twitter

Liquidity Index Bot on Twitter, updated the XRP/PHP charts to note that the liquidity breached the previous record, and was at an all-time high at 1.80 million. The ODL platform to the Philippines has been active for a while now and witnessed strong liquidity since December. Despite a downtime at the beginning of January, the platform gained more traction and started trending in the past week. The USD-PHP volume in the past 24-hours has been 148,242.75, while AUD-PHP reported a volume of 70,676.65.

Ripple‘s corridor to Mexico has been trending since it went live and reported another ATH at 11.2 million. According to Public Tableau, Bitstamp-Bitso noted a daily ODL flow of 4million, while the monthly flow reached 22 million. The Mexican corridor has been noting strong USD-MXN volume in the past 24-hours of 1.80 million.

Source: Twitter

Source: Twitter

In the coming year, Ripple will announce more partnerships and corridors.

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Ripple News Today – XRP Community Suggests an XRP Token Burn To Boost Price

  • XRP burn needed to push XRP price upward
  • XRP Price Update –Is the surge to $0.30 in the short term attainable?
  • XRP/USD Price Update – Will XRP bulls retest the $0.30 before the end of February?

XRP all-time high – The bid to burn 25% of the token in circulation by the XRP community is as a result of the sustained sluggishness of the XRP market. XRP News Now – according to insight from a trader with the username DanRocky on Twitter, he plans to attain a surge in XRP price via this means. According to DanRocky, this plan came to him after the report of crypto company Bitrue on BTR token burning. XRP News Now – The Twitter post has ignited a hot discussion amidst members of the crypto community. Although, not everyone is on the same page with this suggestion.

Ripple News Today – Previously, the XRP token was able to surge one point higher and exceeded ETH. In addition to XRP price variance, according to a Twitter post, the centralization of the asset by Ripple will also decline after the coin burning event.

XRP Price Update –is the surge to $0.30 in the short term attainable?

XRP Price Prediction 2020 – Even with the fast growth of the crypto market, there has been some variance in the price movement which has kept the major 10 tokens in the bullish zone. XRP daily – LTC is the major gainer so far with its market price surging by almost 7% over the last day. Generally, XRP price has declined by about $0.10, with a market cap of $12 040 521 791.

XRP Price Prediction 2020 – Ripple XRP price Forecast 2020

XRP USD TradingView – XRP currently has a trading price of $0.2751, with a 24-hour trading volume of $2 927 099 042, and a 24-hour change of 3.36%. XRP all-time high – traders have so far continued to press and pressure the price of the XRP token to the lower zone of the mounting green channel. Though the support level at $0.266 was able to sustain the XRP/USD pair from declining to the $0.236 level.

XRP/USD Price Update – Will XRP bulls retest the $0.30 before the end of February?

XRP Prediction 2020 – due to the buying pressure from traders, the XRP price has been shoved back into the bullish zone and it is trying to reinstate the XRP/USD pair to the average price level during the day. XRP daily – Should the reinstatement of the resistance of the two-hour moving average fails, the XRP price will seek for support at the $0.28 level to consolidate.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3XRP(XRP)$0.27510.171%

XRP USD TradingView – on the upside, the price movement on the XRP token is less positive. Even though XRP price encountered some price corrections amidst its growth, a massive price decline is yet to be seen. Hence, the closest XRP price prediction 2020 is a decline to the liquidity level of around $0.25 level until the end of February.

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RIPPLE LAUNCHES NEW XRP FRAUD REPORTING PROCEDURE

The Rundown

  • FRAUD CAN BE REPORTED, BUT FUNDS NOT REVERSED
  • RIPPLE PUSHING TO BECOME LEADER IN FINANCIAL SPACE

The company has created a page on its website where foul-play can be reported. This move represents the increasing attempts by Ripple to establish itself as a key player in global finance.

FRAUD CAN BE REPORTED, BUT FUNDS NOT REVERSED

The reporting website gives consumers the ability to make the company aware of fraudulent behavior involving the XRP token. This behavior could include theft, scams, or unauthorized gateways/exchanges. 

The site makes clear that Ripple cannot reverse transactions, owing to the decentralized XRP ledger. Also, XRP users are not Ripple customers. Thus, an “unusual activity report” can be used to help identify and stop fraud, but not necessarily compensate victims.

Interestingly, Ripple encourages users to report “potential sanctions violations, money laundering, unauthorized transactions and/or other financial crime.” In other words, it calls on the Ripple community to self-police, and inform the company of possible illegal activity. This fact underscores the close relationship between Ripple and XRP use, and the company’s firm desire to prevent any foul play with the token.

RIPPLE PUSHING TO BECOME LEADER IN FINANCIAL SPACE

This move is the latest in a series by Ripple in its goal of becoming a key player in global finance. The company has long asserted that it has major plans for expansion. CEO Brad Garlinghouse recently compared the company to Amazon, and noted that moving forward it would explore other services beside cross-border fiat transfers.

Brad Garlinghouse Ripple CEO

To achieve its goals Ripple will need cooperation from regulators, politicians, and law enforcement on a scale yet to be seen in the blockchain sector. In this context, opening up a tool for fraud reporting, and demonstrating a strong willingness to fight crime, is a sensible move. 14 BTC & 30,000 Free Spins for every player, only in mBitcasino’s Crypto Love Affair! Play Now!

Importantly, Ripple has not drawn the ire of the leaders that it needs to win over. For example, unlike Facebook’s Libra, which has been met with a torrent of opposition from world leaders, Ripple has received almost none despite being just as disruptive. 

Ripple’s position is, however, controversial among crypto advocates. Many blockchain purists have long criticized the company for its willingness to work with banks and regulators, asserting that the technology is designed to replace these institutions, not compliment them. Ripple and its executives disagree, claiming that cryptocurrency can only achieve mainstream use if it cooperates and enhances the existing financial infrastructure. 

Regardless of what one thinks of Ripple’s vision, its success in the blockchain space is without dispute. It now counts over three hundred banks as partners, and experienced over 500% growth in the fourth quarter of last year alone. 

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Ripple Price Analysis: XRP/USD consolidates in a flag formation as price settles around $0.275

  • XRP/USD is hovering above the green Ichimoku cloud.
  • The SMA 50 is on course to cross over the SMA 200 curve.

XRP/USD daily chart

XRP/USD daily chart

XRP/USD dropped from $0.2745 to $0.273 as the price continued to consolidate in a flag formation and settle below the $0.275-level. XRP/USD is still hovering above the green Ichimoku cloud, while the SMA 20 is trending above the price. The MACD and Elliott Oscillator both indicate sustained bearish market sentiment, while the RSI is trending around the neutral zone. Interestingly, the SMA 50 is about to crossover the SMA 200, which could trigger massive bullish action in the near future.

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