- Ripple's Liquidity Hub is a crypto liquidity platform that provides end customers with the ability to buy, sell and hold digital assets at competitive prices.
- The technology used in the new product is the same as Ripple's two-year-old On-Demand Liquidity (ODL) platform.
- Analysts have a bullish outlook on XRP price, set a target of $18 for the altcoin based on previous cycle highs.
Ripple's new product is focused on enhancing BTC, ETH, LTC, ETC and XRP liquidity for enterprises. The platform will source digital assets from market makers, exchanges and OTC desks.
Ripple announces plans to launch Liquidity Hub in 2022
Ripple's Liquidity Hub is a solution for enterprises that will enable customers to buy, sell and hold Bitcoin Cash (BCH), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ethereum Classic (ETC).
Ripple's announcement reads:
Mainstream crypto requires engagement from financial institutions. While there are many exchanges supporting liquidity through the consumer trading of digital assets, a true crypto-first world will remain elusive without enterprise participation.
With a rise in the number of projects that require users to leverage crypto, tokenized assets and transfer value, Ripple's new solution is key to offering liquidity to power seamless and affordable access to digital assets for institutions and enterprises.
Ripple recognizes this as a "crypto-first" approach and offers a turnkey solution to financial institutions. The Liquidity Hub will leverage smart order routing to source BTC, ETH, ETC, LTC and XRP from market makers, exchanges and OTC desks at optimized prices.
The emphasis is on "best possible prices" offered to customers on crypto platforms. The Liquidity Hub tackles the challenge of long and resource-heavy integrations and eliminates pre-funding requirements, freeing up working capital for the enterprise.
The technology used is the same as Ripple's ODL platform.
Asheesh Birla, RippleNet General Manager, said,
We know full-well the need for easy and efficient liquidity management. Crypto and financial institutions are embedded in our DNA. So, it makes perfect sense that as they prepare for a crypto-first world, our customers would want access to the same trusted one-stop-shop for buying, selling and holding crypto assets that has powered our own extensive work with financial institutions.
Analysts have evaluated the XRP price trend and compared it to the previous cycle highs. Gert van Lagen, a cryptocurrency analyst, has compared XRP's blow-off tops 2013, 2017 and 2021. Based on his analysis, the target for XRP price at the end of 2021 is $18.
$XRP [1W]: Compare the blowoff tops in 2013, 2017 and 2021. (yellow circles)
— Gert van Lagen (@GertvanLagen) November 8, 2021
From this perspective #Ripple might hit $18 EOY. pic.twitter.com/6RSHS5ms5B
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Celebrity meme coins controversy continues amid Pump.fun revenue dominance
Pump.fun outperformed the Ethereum blockchain on Tuesday after raking in $1.99 million. Following this achievement, a meme coin based on actress Sydney Sweeney was the subject of controversy after its developers dumped their bags on investors.
PEPE's on-chain metrics indicate potential rally after weeks of silence
PEPE has struggled to see any significant price move after reaching an all-time high in May. Increased adoption rate and low MVRV ratio indicate a bullish run may be on the horizon. A single PEPE outflow from Binance worth $14.7 million gives credence to signs of bullish expectation.
Ethereum has failed to overcome key resistance despite bullish sentiment surrounding ETH ETF
Ethereum (ETH) is down more than 1.4% on Tuesday following another ETH sale from the Ethereum Foundation. Meanwhile, crypto exchange Gemini's recent report reveals that ETH ETF could see about $5 billion in net inflows within six months of launch.
Crypto community blasts Polkadot following report of treasury spending
Polkadot reports $87 million of treasury spending during H1. Crypto community members expressed harsh feelings toward the DOT team's high spending. DOT is up more than 2% in the past 24 hours but risks correction following the report.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.