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Ripple expands: 519 employees worldwide – ODL volume continues to rise

  • The analytics platform Craft.co reports that Ripple now employs 519 people worldwide and will continue to expand.
  • The XRP broker Bitso has registered new record high of XRP transactions on the On-Demand Liquidity (ODL) plattform.

Aside from the XRP price, the good news for Ripple regarding the company’s growth continue. In recent months, Ripple has formed a number of new alliances and partnerships. In early November, the company reached a milestone when it announced more than 300 partners worldwide. However, the company is growing not only from an external perspective, but also internally. Ripple now employs more than 500 people and plans to grow further over the coming months. In addition, the On Demand Liquidity (ODL) service, which uses the XRP token, continues to record new record volumes almost daily.

Ripple has 519 employees and plans further expansion

According to analytics firm Craft.co, Ripple has 519 employees worldwide. This represents a growth of 4.22% in December of this year.

Ripple XRP

Source: https://craft.co/ripple-labs

Despite the registered growth, the company is striving for further expansion. There are more than 40 vacancies, including management positions. Most importantly, Ripple is looking for people to help them manage new partners and increase the adoption of XRP services. To achieve this, Ripple is also looking for a project manager. The role will be to help partners, banks and other institutions integrate their operations with the On Demand Liquidity service.

New all time high volume reached for ODL

On the other hand, the corridor created by Ripple with one of the oldest stock exchanges in Mexico, Bitso, is showing first results. The XRP/MXN corridor begins to show a high volume of liquidity. The most recent all-time high was reached on 11 December this year, when the liquidity reached USD 10 million.

The same applies to XRP/PHP trading, according to the Liquidity Index Bot. Today, December 16, the trading in this corridor reached a new record of USD 1,261,268 despite the fact that only 29% of the day has passed.

The corridor recorded a liquidity volume exceeding USD 10 million in the last four months. However, the XRP/MXN corridor still has the highest levels of liquidity. The Bitstamp and Bitso platforms have a daily volume of 3 million USD. According to data from the Public Tableau platform, the monthly liquidity volume of the broker is 53 million dollars. The volume of the last quarter was 100 million USD as can be seen in the graph below, the growth has been significant.

Ripple XRP

Source: Public Tableau

Despite this, the price of the XRP is still subject to a strong downward trend over the past months and currently stands at 0.21 USD. XRP is down 2.22% in the last 24 hours. Thus, the positive news from Ripple are still not reflected in the price of the token. Indeed, according to the CNF team’s analysis, XRP has one of the worst performances in 2019. It remains to be seen whether recent events will have an impact on XRP performance in the short or medium term.

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About Author

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Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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