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XRP ODL corridor to the Philippines surges while XRP/MXN still leads

Namrata Shukla

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Source: Pixabay

The XRP/MXN corridor on Bitso has been marking new all-time highs in terms of liquidity almost every other day. The corridor noted a new ATH on 11 December 2019, where it reported liquidity of 10 million. According to the last update by the Liquidity Bot Index, XRP/MXN noted 9.02 million liquidity on 16 December. Apart from the prominent XRP/MXN corridor, the XRP/PHP gateway has also seen a rise in its liquidity.

According to the Liquidity Bot, XRP/PHP noted a new ATH on 16 December as it reached 1.37 million.

Source: Twitter

Source: Twitter

As per the data provided by Twitter user @hmatex about the ODL platforms, the ODL flows for PHP were most active between Bitstamp and Coins.ph. Even though the amount of daily ODL flow was less than a million, the count of amount, as mentioned in the charts, was 80. On the other hand, the weekly and the monthly ODL flow reflected the amount in USD and breached a million.

On the weekly chart, the amount in the USD was noted to be $1 million and the count of the amount was 280. The monthly chart reported the amount reaching $2 million with 657 counts of the amount. The fourth quarter reported the amount to be as high as 7 million and the count of the amount was reported to be 11,311.

However, XRP/MXN was still the most active corridor of all ODL platforms between Bitstamp and Bitso, as suggested by the data provided by the Twitter user. The daily amount in USD was $3 million, with the count of the amount being 158. On the contrary, the monthly ODL flow noted an amount of 11 million, followed by a monthly flow of $27 million and a quarterly flow of $116 million.

The Utility Scan that offers real-time data about ODL marked the 24-hr volume of PHP with USD to be $139,302.55, whereas AUD-PHP had reached $97,213.65. USD-MXN reported a 24-hour volume of $1.52 million.

Source: Utility Scan

Source: Utility Scan

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.