XRP Executives Say Institutional Trading Will Boost The Price

XRP executives believe that institutional trading will help boost the XRP price by bringing greater liquidity to the On-Demand Liquidity payments product. In our Ripple XRP news today, we find out more how the price could behave in the following period.

One of the XRP executives, VP Breanne Madigan said that the XRP liquidity is the ‘’lifeblood’’ of On-Demand Liquidity because it is able to lower the risk and costs of every cross-border transaction:

 “The continued growth of ODL has led to an expanding number of financial institutions, payment providers and market-makers to trade in XRP. The resulting increase in institutional trading volume has helped to bring further liquidity to XRP, specifically in ODL corridors – in spite of the recent market turbulence surrounding the COVID pandemic.”

Bitso, the biggest crypto exchange in Mexico even expanded the reach by utilizing ODL thus dramatically increasing the XRP/Peso volume. The exchange is now able to process 2.5 percent of the remittance transactions from the US to Mexico making it the third-largest remittance market in the world. The company prides itself on the partnership with Ripple.

According to the head of finance at Bitso, Barbara Gonzalez Briseno, the technology of Ripple enabled them to charge only a ‘’fraction of traditional wire transfer fees.’’ Madigan said that the exchanges that are now on-demand liquidity partners, can help boost the XRP liquidity going forward.

 “But even non-ODL partner exchanges like Kraken or Coinbase will contribute to increased liquidity. As non-ODL partner exchanges continue to grow more mainstream, larger institutional traders will begin transacting in XRP, making order books – including ODL order books—more liquid.”

In the recent Ripple XRP news, from its peak in February, XRP has fallen off by just under 50%, crashing under the pressure of a bear market across many asset classes. The analyst @LomahCrypto recently showed that the Ripple price is preparing for new runs, predicting a scenario where XRP appreciates by nearly 30% in the coming two months. This points to the $0.24 price point as the next target for the Ripple XRP price.

There’s also a sentiment that XRP is in a macro bearish trend. Analysts highlight the double rejection pattern at the key horizontal support regions and we can see that the asset is entering a region where there is almost no liquidity.