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Ripple’s XRP has always been making headlines. It seems to be the rave of the moment in the U.S. and Mexico as recent reports state that there is a rise in its crypto adoption in both countries.
Ranking third in most valuable cryptocurrency, Ripple has made news on its latest partnerships, its outstanding market performance, and price changes.
The latest news on Ripple XRP which was released by an investor on twitter revealed the top cryptocurrency is gaining more grounds in the U.S. and Mexico. More crypto users in these countries have come to the awareness of XRP capabilities and are now using it for their transactions.
XRP’s Liquidity Increases
The cryptocurrency market is a liquid one. It is affirmed that with the increased usage of XRP in the US and Mexico, so also is an increase in XRP’s liquidity. These go par in par and seem correlatable. This liquidity factor is a strong proponent for XRP’s adoption amidst major financial players. XRP‘s current market cap is a total figure of $12.6 billion and its 24-hour trading volume estimated to be $1.76 billion.
Volumes May Not Be Affected
Based on increased crypto adoption in the U.S. and Mexico, there may not be any significant change in volumes, however. Volume in the cryptocurrency market refers to the amount traded on that particular exchange. It is an activity-dependent factor not necessitated by events.
XRP in Partnership with Bitso
Mexico based Bitso is the largest exchange in the country. Bitso was in the news recently following its newest deal with XRP. As at the time of writing this report, XRP token valued at around $2 million has been used in transactions in Mexico. Recall that volume in the cryptocurrency market refers to the amount traded on that particular exchange. Bitso volume has leveraged on XRP token usage. It is recorded that more than 70% of the transactions recorded by Bitso are XRP based. This is a landmark achievement for XRP.
XRP Keeps Making Giant Strides
XRP has raced past other cryptos to clinch the title of the third topmost cryptocurrency. It briefly occupied the 2nd position Ethereum has always taken before Ethereum (ETH) bounced back.