By Tobi Loba
The third-largest cryptocurrency by market capitalization has been making a host of improvements over the past weeks. A few days ago, the digital currency topped the investment round on Bitso, the largest Latin American cryptocurrency exchange based in Mexico. XRP has recently attained another on the same crypto exchange, by recording new all-time high in terms of liquidity.
It was reported 2 weeks ago that the liquidity of Ripple’s digital token XRP was on the verge of surpassing its all-time high. This indicates that there has been a continuous flow of transaction of XRP on Bitso exchange, particularly in Mexico.
Janna One Trick reported this on Twitter. Back then, she related that there has been an increase in the volume of XRP transaction on the crypto exchange. On the exchange, XRP liquidity attained its all-time high sometimes in August 2019, which was preceded by a distinct drop, but later embarked on the course, recording new all-time high.
XRP Liquidity Attains All-Time High on Bitso
As earlier mentioned, XRP transaction has been up and doing in Mexico’s Bitso, and its consolidation has made the digital currency reach a notable height once again on the exchange.
It was again hinted via Twitter by Janna One Trick. This time, the update is about XRP’s record of a new all-time high in terms of liquidity. Janna captioned a chart that connotes the new record attained.
For the first time
The Bitso XRP Liquidity Index is above 4kkIt literally stayed in the 3 million range for just 3 days!https://t.co/sBnFAp8QEi pic.twitter.com/bXRTsobsi6
— Janna One Trick (@Janna_One_Trick) October 23, 2019
Ripple Tops Investment Round on Bitso
As XRP liquidity soars on Bitso, Ripple, the blockchain tech that oversees the distribution of the cryptocurrency also replicated the current performance of the digital token a few days ago.
As reported, Ripple, the cross-border payment giant topped the funding round at Bitso exchange. This is the reflection of Ripple’s quest to lead across the board, which extends to other continents of the world.
The report shared on Twitter by XRP Research Center reads thus: “Ripple participates as lead investor in Bitso‘s latest funding round.” This is so plausible when comparing the performance of its digital token XRP.
Situation of Digital Currencies in the Market
Things are really falling apart in the cryptocurrency market presently. The bears have got the better of the market, leaving virtually all coins, including Bitcoin (BTC) and Ripple’s XRP in a terrible situation.
In a very short interval, Bitcoin lost its most important supports, recording huge price deficits. At the time of filing this report, BTC is trading at $7,503.06, with relatively 8% price plummet in the last 24 hours.
Ripple’s XRP also shared in the unfavorable market situation by failing to hold ground on the supports it once maintained. Over the last 24 hours, XRP has lost about 9% of its price. The digital currency is now trading at $0.269433.
All other top digital currencies in the market have noticeably undergone price losses. The major reason behind this significant correction has not been ascertained. However, some crypto analysts had earlier predicted such price action for Bitcoin.