XRP on the move: The coin’s liquidity reaches a new milestone

XRP on the move: The coin’s liquidity reaches a new milestone
Written by:
Ali Raza
April 28, 2020
  • XRP price saw a correction from the minor surge it experienced, but the coin still hit a new milestone.
  • It was caused by massive amounts of XRP that got removed from major exchanges.
  • Right now, the coins sit in anonymous wallets, and XRP price seems to be trying to stabilize at $0.180.

XRP liquidity has always been quite high, but it recently broke all previous records. A recent report from Liquidity Index Bot on Twitter reported a new all-time high (ATH). At the same time, owners of multiple anonymous wallets filled with XRP coins mover massive amounts.

XRP Mexican ODL corridor reports new XRP liquidity ATH

The new data comes from the Mexican ODL corridor, the Bitso exchange. The exchange revealed earlier today, April 4th, that XRP’s old record got exceeded by over a million, putting it at 22,466,988. This is a new record and a milestone for XRP, whose previous record was 21,157,313.

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Of course, there are other popular corridors also, such as the Philippines and Australia. While these did not hit new milestones at the time of writing, they are closing in on them.

In the last 24 hours, around 98.2 million XRP coins were transferred between several anonymous wallets. The coins originated from several major cryptocurrency exchanges, including Binance, Bitstamp, Coinbase Pro, and others.

XRP price struggling to breach a resistance level

As for XRP itself, the coin saw a minor surge yesterday, April 3rd. It climber past $0.182, which quickly rejected it, causing another drop. After that, the XRP price bounced after hitting the minor support at $0.178, and it grew back to a resistance at $0.180.

Since the start of the day, the price fluctuations have continued, as the coin tried to breach this resistance, although they keep getting smaller. At first, the resistance was too strong to breach it, but in the last few hours, XRP managed to do multiple minor breaches. At the time of writing, its price sits at $0.179702, with a trading volume in the last 24 hours being just short of $2 billion. Meanwhile, the coin’s market cap sits at $7.89 billion.