The ODL index for XRP/AUD exceeded the previous all-time high value of $15,640,530 despite the price of XRP staying relatively flat.
On-Demand Liquidity (ODL) for XRP paired with the Australian dollar reached a new all-time high of 15,640,530 AUD on the exchange BTC Markets.
According to a recent tweet from the Liquidity Index Bot, the liquidity index for BTC Markets for XRP/AUD climbed to 15,640,530 AUD — approximately 10.6 million USD — on June 2, exceeding the previous ATH value. The XRP liquidity in Australian markets has seen a fairly steady rise since the beginning of 2020, despite the price remaining close to 0.20 USD since May 10.
ODL network more popular than ever
Cointelegraph reported Ripple’s ODL payments network tripled in transaction volume over Q1 2020, while the USD value transacted using ODL increased by more than 294%. Ripple was able to reduce its total XRP sales from $13.08 million in Q4 2019 to $1.75 million in Q1 2020.
Token holders have described XRP liquidity as the “lifeblood of Ripple’s [ODL] for cross-border payments.”