As Ripple vs SEC Verdict Nears, $1 XRP Price Looks Nigh Following Launch Of Ripple’s Liquidity Hub

Ripple Lawsuit: SEC's Win Against This Blockchain Firm in A High-Profile Securities Case Unnerves XRP Army

On April 13, Ripple Labs announced the launch of its Liquidity Hub, a new business-to-business crypto liquidity platform designed for enterprise-level use.

According to the firm, the new hub aims to provide global access to digital asset payout rails from various market makers, exchanges, and over-the-counter trading desks. It will operate independently and complement Ripple’s widely-used cross-border payments solution, On-Demand Liquidity (ODL). It will also facilitate the seamless integration of solutions to help businesses manage liquidity across platforms, reducing expenses on high-volume transactions like crypto treasury operations.

“Businesses must be able to move into and out of these distinct assets quickly and easily regardless of the number of users on the platform, trading volume, and market efficiency—all aspects which may impact liquidity,” said Ripple. 

Using advanced technology to source the best crypto asset rates and eliminate the need for pre-funded capital positions, the new liquidity hub will support a range of cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, and fiat currency, the U.S. Dollar.

The firm also noted that it would evaluate XRP and other tokens for support within the products adding that it “looks forward to supporting XRP as it receives regulatory clarity in the U.S.”

Ripple’s announcement comes following the successful pilot of the product last year, with its success now depending on its interoperability and extensive payout network across multiple asset pairs.

XRP’s Road To $1

Ripple’s new liquidity hub has been received positively by many crypto enthusiasts who believe it could propel XRP to new heights. Despite the ongoing SEC v Ripple lawsuit placing XRP in a precarious position, the cryptocurrency has been seeing increased interest from investors, with the number of XRP addresses worldwide surprising 4.6M. Presently, there are approximately 1.08 million active addresses, according to crypto analytics firm Santiment.

Ripple’s Liquidity Hub launch has raised further excitement about its future. The success of this new product could potentially propel XRP to new heights and help the cryptocurrency break through the $1 resistance level.

That said, XRP grew significantly in the past quarter, surging by over 70% since Jan 1st. However, the cryptocurrency has been finding it hard to breach a multi-yearly resistance at $0.55 due to a massive sell-wall created by short traders when the price hit that area in late March. Nevertheless, market pundits say prices could explode as accumulation grows faster than sell-offs. This factor could escalate as the countdown to the ruling in the SEC v Ripple continues. 

At press time, XRP was exchanging hands at $0.50, down 2.47% in the past 24 hours, according to CoinMarketCap.

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