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You are here: Home / News / Altcoin News / XRP Continues To Shine In Mexico As Bitso Shows Strong Numbers For MXN Pairing
liquidity index

XRP Continues To Shine In Mexico As Bitso Shows Strong Numbers For MXN Pairing

January 7, 2020 by Ketaki Dixit

XRP movements across different markets have been a sight to behold with various players involved in daily transactions. Sticking to its belief in cross-border transactions, XRP has made several strides in regions where normal fiat movement has been difficult.

Bitso, one of the most popular Latin American exchanges has been a platform where XRP has shone and on January 6, the liquidity index touched a new all-time high for the new year. On this particular day, the daily progress was at 92 percent with the liquidity index settling at $9.417 million. This was just $800,000 shy of the ATH at $10.189 million. After having a fairly dim final month of 2019, the Bitso XRP/MXN  ATH was created on December 30.

The noticeable hike in the liquidity index caught the eye of the community quickly because while the current ATH was formed near the $10 million mark, just a month back it was near the $6 million mark. Bitso has also pushed the trading pair on its customers in a bid to grown and expand the RippleNet US-MXN corridor. The trading pair movement is not the only feature that Bitso has planned to execute in Mexico, as the organization even launched its On-Demand Liquidity in the same region.

The above-mentioned additions came at a time when XRP was just beginning to get out of the bear rut. At the time of writing, XRP was trading for $0.21086 with a total market cap of $9.137 billion. The cryptocurrency’s value had risen right after that of Bitcoin, at a rate of 7.94 percent in 24-hour. This sudden surge even lifted XRP’s low lying 24-hour market volume, now at $1.61 billion. Brad Garlinghouse, the CEO of Ripple himself stated that they can’t control the price of XRP any more than a random Bitcoin whale. In his words:

“Yes, Ripple owns a lot of XRP, we’re very interested in the success of XRP, but the accusations of us dumping, that’s not in our best interests to do that […]. We would never do that and in fact, we’ve taken steps to lock up most of the XRP we own in escrows so we can’t touch it.”

Filed Under: Altcoin News Tagged With: Bitso, Cryptocurrency, liquidity index, Ripple (XRP)

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