By Tobi Loba
Over the past few months, Ripple’s XRP-powered On-Demand Liquidity (ODL) in all corridors across the world has been underperforming in terms of liquidity value.
The latest reports released by the Liquidity Index Bot regarding ODL performance in all corridors have raised more questions than answers among the XRP community members.
According to the report, the liquidity index of XRP-powered ODL in Mexico’s Bitso and Bitstamp read negative, while both BTC Markets and Coins.ph have been performing below expectations, considering the all-time highs they once recorded.
Wietse Wind, a lead developer on XRP Ledger, also expressed shock in his reaction.
Read Also: Crypto Analyst Identifies the Key Level XRP Must Attain To Print Its Long-Awaited Bull Run
Bitso and Bitstamp Records Negative Liquidity
As deduced from the performance chart shared on Twitter by the Liquidity Index Bot, the liquidity of Bitso XRP/MXN on a 28-day moving trend read -385,286, a significantly far value from its all-time high of 38,168,036.
“Liquidity Index for Bitso XRP/MXN (28-day moving trend) Day progress: 29% Today so far: -385,286 All Time High: 38,168,036.”
Liquidity Index for Bitso XRP/MXN (28-day moving trend)
Day progress: 29%
Today so far: -385,286
All Time High: 38,168,036
Data: https://t.co/v07j0Xh3s1 pic.twitter.com/qhyZaSjmhs— Liquidity Index Bot (@LiquidityB) November 7, 2020
Similarly, the liquidity of Bitstamp XRP/EUR on a 28-day moving trend read -1,803,496, compared to its all-time high of 35,746,047.
“Liquidity Index for Bitstamp XRP/EUR (28-day moving trend) Day progress: 29% Today so far: -1,803,496 All Time High: 35,746,047.”
Liquidity Index for Bitstamp XRP/EUR (28-day moving trend)
Day progress: 29%
Today so far: -1,803,496
All Time High: 35,746,047
Data: https://t.co/eXhAP67ua3 pic.twitter.com/7eQE9qTzDZ— Liquidity Index Bot (@LiquidityB) November 7, 2020
Read Also: David Schwartz Highlights Obstacles Facing XRP As Price Lags Behind Bitcoin (BTC)
Coins.ph and BTC Markets Have Also Been Underperforming
As it stands now, the remaining two prominent ODL corridors, Philippines’ Coins.ph and Australia’s BTC Markets, are not far from recording negative liquidity, considering their below-par performance lately.
Liquidity Index for https://t.co/raMbsEkdJD XRP/PHP (28-day moving trend)
Day progress: 29%
Today so far: 171,207
All Time High: 11,508,218
Data: https://t.co/cF3K6P1fg9 pic.twitter.com/RwveSUpPyx— Liquidity Index Bot (@LiquidityB) November 7, 2020
Liquidity Index for BTC Markets XRP/AUD (28-day moving trend)
Day progress: 29%
Today so far: 162,526
All Time High: 16,089,305
Data: https://t.co/zlBcWd0sYI pic.twitter.com/pa48pR9KKv— Liquidity Index Bot (@LiquidityB) November 7, 2020
Concerns Regarding the Performance of XRP in the Market
It is not ascertained whether this performance in terms of Liquidity has a major impact on the price of XRP in the crypto market.
Obviously, the fourth-largest cryptocurrency has not printed a significant price trend since the beginning of 2020, which makes the digital asset to keep trailing below $0.3.
Read Also: Warren Anderson Reveals Force behind Bitso, Coinsph, BTC Markets Increased XRP Liquidity
Top cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), among others, have managed to record huge positive price trends year-to-date, unlike XRP.
Additionally, XRP has not fully replicated the present bull rally led by Bitcoin (BTC). At the time of writing, XRP is trading at $0.263106, with about a 4% price uptrend in the last 24 hours.