- Ripple’s On Demand Liquidity corridor for Australia reaches a new all-time high in trading volume for the XRP/AUD pair.
- The U.S.-Mexico corridor with the USD/MXN pair and the Philippines corridor with the USD/PHP pair also recorded an increase in transaction volume.
According to data from the Liquidity Index Bot, Ripple’s payment corridor with Australia reached a new all-time high in its transaction volume. The corridor that uses the On Demand Liquidity payment solution in the XRP/AUD pair for the BTC Markets registered a transaction volume of 7,550,335 XRP on March 12 of this year. The previous all-time high was 7,164,301 XRP.
At the beginning of the year, the corridor for the XRP/AUD pair only recorded a transaction volume of 500,000 XRP. In February, it reached a major milestone when the transaction volume exceeded 4 million XRP. Since then, it has had sustained growth reaching new all-time highs during March and almost doubling previous month’s volume.
Ripple corridors continue to register sustained growth
On the other hand, data from the Utility Scan shows that Ripple’s payment corridors show growth for all pairs. In the U.S.-Mexico corridor, with the USD/MXN pair, it registered a transaction volume of $7.073 million when the XRP/AUD pair reached its new all-time high in transaction volume on the aforementioned date.
Although in the last 24 hours trading volume has dropped to $5.5 million, at the time of the article’s publication, the Mexican corridor still shows significant growth levels. According to Daniel Vogel, general director of Bitso, the exchange plans to handle 20% of weekly transfers between the United States and Mexico by the end of 2020.
As can be seen in the chart, Ripple’s corridor for the Philippines recorded a transaction volume of $2.1 million on the USD/PHP pair in the last 24 hours. This corridor has experienced strong growth, as reported by Crypto News Flash. It reached a new all-time high in its transaction volume on March 8. According to data from the Liquidity Index Bot the all-time high for this corridor is 6,152,415 XRP.
It is important to note that the total transaction volume for Ripple’s payment corridors in all its pairs has recorded a sustained increase since March 9. According to Utility Scan the transaction volume for the corridors increased from 9 million on this date to 12 million on March 12th. Ripple CEO Brad Garlinghouse said last year that Ripple’s customer base would increase by 40% and transaction volume by 600% during 2020. So far the indicators are positive and could prove him right.
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