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Do Ripple's gold coins fake liquidity on the cryptocurrency trade?


XRP is the second largest cryptocurrency on the market after Bitcoin (BTC). This digital resource is trying to reach new financial institutions and companies all over the world to execute cross-border transactions. In the future, this digital resource could challenge Bitcoin's dominance in the market.

This digital resource has recorded an increase in the volume of exchanges in various exchanges around the world. According to CoinMarketCap XRP had a trading volume of $ 400 million in the last 24 hours. However, coinmarketbook.cc has shown that part of this liquidity is false.

This website provides information on the actual liquidity of the main exchanges. The website provides information on purchase orders at a distance of 10% from the highest bid price. This is calculated by summing purchase orders close to the offer price and converting the amount into US dollars.

This allows the market to have a better idea of ​​the trading volume of a given currency, avoiding the manipulation by large whales and market makers. According to this indicator, there are $ 138 million ready for the purchase of Bitcoin, $ 26 million of purchase orders for Ethereum and only $ 13 million for XRP.

There are several XRP supporters who are very confident about the future of digital resources. This virtual currency could be used by banks and financial institutions to process cross-border payments, reduce costs and improve the services offered to customers.

However, a few days ago, a video spread to social media for the enthusiast of the encryption, asking some companies that apparently worked with the XRP cryptocurrency but informing them that they were not using the digital resource. However, this is not a conclusive video and many more surveys must be performed to say that there are no companies that use XRP.

Ripple currently has more than 200 companies working in its network called RippleNet, and others are already working with the xRapid solution that uses XRP as a resource to process transactions.

At the time of writing this article, XRP is trading around $ 0.318 and has a market capitalization of $ 13.06 billion.

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