XRP, the third-largest cryptocurrency on the charts, is considered as the asset that will revolutionize the cross-border transaction industry. Apart from being adopted by several companies, XRP pairs have also gone ahead and performed well as trading pairs in many regions across the globe.
The most popular XRP trading pair in Mexico is the XRP/MXN pair, which has been going from strength to strength in the country for some time now. The pair got another boost recently when the liquidity index for XRP/MXN went over 10 million. This comes after steady growth over the past few weeks, where the liquidity index climbed from 5 million to the current hold above 10 million in a concise period.
XRP/MXN pair breaks its very own record
The record was created on December 16 when the ‘current index’ was at 8.319 million. The climb on the liquidity index reset the all-time high to 10.031 million, a far cry from the hold below the 2.5 million mark just two months back. Looking at the charts, it is pretty evident that the increase in the liquidity index front occurred rapidly since the start of October.
On October 1, the XRP/MXN liquidity index was near the 1.8 million mark. From that point onwards, there was an unprecedented increase till the 17th of November, after which there was a temporary slowdown. The trading pair picked up the pace again on the 5th of December, after which there was no looking back.
Ripple’s XRP army remains optimistic
The XRP community or ‘army’ was already in the midst of celebrating the metric’s jump above the million mark when the latest milestone was created. Users are still speculating about the sudden influx of capital and interest, with many stating that it may be due to XRP being mentioned in a recent CFPB document.
The Consumer Financial Protection Bureau proposed the idea of increasing the safe harbor in its capital remittance rule, which would, in turn, reduce company compliance costs. The official document had given recognition to both XRP and Ripple and once clause added:
“…the continued growth and expanding partnerships of virtual currency companies, such as Ripple, which offer both a payments messaging platform to support crossborder money transfers as well as a proprietary virtual currency, XRP, which can be used to effect settlement of those transfers.”
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.