-Ripple’s native token XRP has reached a new milestone in Australia with its highest trading volumes on exchanges.
-This achievement is credited to Ripple’s cross-border remittance payment (ODL) use case adoption.
-XRP accounted for 62% of the trading volumes on the BTC Market, a Melbourne-based exchange, and 82% of the Independent Reserve Exchange over the past day.
Ripple’s native token, XRP, has been making waves in the crypto world recently, and it has recently achieved a new milestone in Australia. XRP has recorded the highest trading volumes on exchanges, which is credited to Ripple’s cross-border remittance payment (ODL) use case adoption. This news came from Financial Review, an Australian media outlet shared on Twitter by Neil Smith, Ripple’s partner engineer, and Aussie firm, Blockchain Australia.
Ripple’s on-demand liquidity makes XRP an ideal token for cross-border payments, as it allows customers to access liquidity using this token. XRP itself serves as a bridge token between fiat currencies, allowing users to make payments in local currency at the payment destination within seconds. This is why Ripple’s native coin contributed to 62% of the trading volumes on the BTC Market, a Melbourne-based exchange. It also accounted for 82% of the Independent Reserve Exchange over the past day.
The XRP community is now anticipating a final court ruling in the lawsuit with the U.S. SEC (Securities And Exchange Commission). This news comes as Ripple is dominating Australian crypto exchanges with its native token. CEO of BTC Markets Caroline Bowler said her crypto exchange is a Ripple on-demand (ODL) liquidity partner in Australia, which has allowed them to experience a surge in XRP trading volumes.
The news is a major milestone for Ripple, and it shows the potential of XRP as a bridge asset. It is helping people to access liquidity and make payments faster, and it is clear that Ripple is going to be a major player in the crypto world. With the lawsuit with the SEC coming to a close, the future of Ripple and XRP is looking brighter than ever, and the XRP community is excited to see what the future holds.