In fact, traditional investors assume that an increase in the fundamental value of an asset is followed by an increase in the price of the asset. However, despite the constant new partnerships and successes from Ripple’s existing business collaborations with other financial companies, the XRP price is not really coming off the ground after the crypto winter. Compared to exactly one year ago, the Ripple share price is down over 60% and currently stands at USD 0.19. Despite this poor performance, we want to focus on positive Ripple news in this article, because the company still has a lot to celebrate!
Ripple is also becoming increasingly important in Europe
One of the most positive Ripple News is that XRP and the On-Demand Liquidity (ODL) product seems to be so good that it is receiving more demand than expected. Even the company’s CTO seems to be surprised by this.
Specifically, this strong demand is reflected in the fact that the payment corridor between the euro and the US dollar (EURUSD) is now also being enhanced by Ripple. The special thing about this is that this corridor is one of the most efficient and liquid in the world and was not really on Ripple’s watch. CTO David Schwartz writes about it on Twitter:
I never thought it would make sense in corridors that are already so efficient and fluid, but we have customers who say that the speed and availability at any hour and during holidays is useful for them.
According to Ripple, during 2019, ODL volumes increased by 550%, with the number of transactions increasing by almost 400% in the last quarter.
USA-Mexico also increasingly important because of XRP
But that‘ s not enough. In other regions of the world, Ripple’s ODL solution continues to improve remiss transfers. It has long been known that XRP transfers a considerable percentage of its volume between the USA and Mexico.
In a recent interview, Warren Anderson, Head of Developer Relations at Ripple, reports that this figure is now as high as 10%. This news becomes even more remarkable as the corridor between the US and Mexico is the third largest in the world.
Ripple’s cash flow between the US dollar and the Mexican peso is made possible by the Mexican-based crypto exchange Bitso in a partnership established at the end of 2018. Overall, we can therefore conclude that the situation regarding Ripple and the use of ODL is probably better than ever before.