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Bitso XRP liquidity index breaks all time high as XRP/MXN trading volume surpasses BTC/MXN

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Bitso XRP Liquidity Index Breaks All Time High as XRP/MXN trading volume surpasses BTC/MXN

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On September 14, XRP/MXN trading volume surpassed BTC/MXN volume on Bitso, a Mexican cryptocurrency exchange.

Bitso is one of the of exchanges that accepts fiat from financial institutions and executes transaction via xRapid. The surge in trading volume was associated with this increase in xRapid volume on Bitso. XRP Research center on Twitter announced:

“The Mexico @Bitso Liquidity Index just broke previous all-time high.
Also, for the ????? ???? in years, the #XRP/MXN trading volume reported to CMC ????????? #BTC/MXN volume.”

Source: Twitter

Source: Twitter

When XRP/MXN surpassed BTC/MXN trading volume, XRP was more liquid at the time as compared to Bitcoin in the US-Mexico Corridor. Bitso founder, Daniel Vogel shared this news with the community. However, XRP/MXN takeover was brief and was taken over by the large trading volume of BTC/MXN, at press time.

Source: CoinMarketCap

Source: CoinMarketCap

Apart from the trading volume, Bitso’s liquidity index broke its previous ATH.

Source: Twitter, XRP Research Center

Source: Twitter, XRP Research Center

XRP finally broke out of its months-long bearish trap to note a rise of 3.82% within an hour. The price of the coin started climbing from $0.25455 and rests at $0.26294, at press time. The coin surged by over 5% in a day with a market cap of $11.30 billion and 24-hour trading volume of $951.79 million.

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Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.
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