- Ripple Labs announced the launch of the Liquidity Hub platform for business use.
- The operation of the Liquidity Hub could see XRP break the USD 1 barrier.
In recent days, Ripple Labs informed the crypto community about the launch of a new liquidity platform called Liquidity Hub, for business-to-business use.
Its primary function is to grant market makers, exchanges, and over-the-counter trading desks full access to the payment lane of digital assets.
It is a complement to On-Demand Liquidity (ODL), Ripple’s cross-border payment solution but its operability is independent. Similarly, it provides support to companies to coordinate liquidity across all platforms by making processes easier and at low cost when transaction volume is high, for example, with cryptographic treasury operations.
“Businesses need to be able to get in and out of these various assets quickly and easily, regardless of the number of users on the platform, the volume of trading, and the efficiency of the market, all of which can affect liquidity,” Ripple said. Labs.
Liquidity Hub will be able to host a large number of cryptocurrencies, such as Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, and fiat currency. Its state-of-the-art technology allows you to manage cryptoactive capital with low-interest rates without pre-financing.
The liquidity center does not rule out XRP and other tokens to support the products. He further commented that he “looks forward to supporting XRP as it receives regulatory clarity in the US.” Ripple’s new launch will be successful depending on its interoperability and its range of payment networks with various assets.
The news of the launch was well received by some of the crypto community who are still confident in XRP taking off. The court case between the SEC and Ripple does not appear to have affected investor interest in XRP; 4.6 million cryptocurrency addresses are registered worldwide. According to the Santiment platform, 1.08 million addresses are active.
XRP could benefit greatly from this launch, breaking the $1 resistance at last. Since the start of the year, XRP has grown by 70%, but this has not been enough to overcome the multi-year resistance of $0.55 caused by a massive sale of traders’ shorts during the month of March, with the price swinging in that area for below 1 USD.
According to experts, if there is more accumulation, the higher price. Also, what happens in the Ripple case and the SEC will have an influence on this. According to CoinMarketCap, at the time of writing, the price of XRP was $0.5244.
