Ripple celebrates its strongest year with ODL success, 25x growth in transactions
- 2021 was one of the strongest years for Ripple as its On-demand liquidity platform witnessed 25x growth in transactions.
- The spike in on-chain activity and increase in the number of partner countries on the ODL network points to Ripple’s growth.
- XRP price increased in double-digits over the Christmas holidays, fueling a bullish narrative among investors.
Despite the legal battle with the Securities & Exchange Commission, Ripple celebrated a stellar year in 2021. The global payments giant has grown its on-demand liquidity platform and forged new partnerships over the past year.
Ripple has ‘strongest year ever’, witnesses massive growth in ODL
Brad Garlinghouse, CEO of the global payments giant Ripple, has announced the firm’s performance and commented on the Securities & Exchange Commission (SEC) vs. Ripple case.
Garlinghouse noted that the on-demand liquidity (ODL) platform accounted for 25% of the total transaction volume on RippleNet. The transaction volume on Ripple’s ODL platform has risen 25 times since Q3 of 2020. The 130% quarter-on-quarter growth is indicative of the platform’s rising popularity and utility.
Garlinghouse was quoted as saying,
All this growth came from outside the US for (sigh) obvious reasons.
The ODL platform was first launched between Japan and the Philippines, followed by the Middle East. On-chain activity on the platform continued rising, increasing the utility and adoption of XRP since it is the native token.
Crypto analysts at the YouTube channel ‘Mickle Markets’ have evaluated the XRP price trend and predicted that the altcoin would go parabolic once it crosses the resistance at $1.10 and enters prime breakout territory.
The analyst is bullish on Ripple price growth if the altcoin continues trading sideways within the symmetrical triangle.
Analysts noted double-digit growth in Ripple price over the Christmas holidays. Ripple price has posted 10.6% gains over the past week, and the uptrend could continue based on the prediction.
FXStreet analysts have noted that the altcoin’s price has hit $1, forming a local top.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
