- Role of Market Makers in Increasing XRP Demand
- Crypto Ery's Comment on ODL
- Support for XRP from Financial Institutions
In a recent video, wealth advisor Mickle expressed his thoughts on Ripple’s On-Demand Liquidity (ODL) and the future of XRP. Unlike other skeptics, Mickle believes that ODL and related operations will increase demand for market makers to retain XRP, perhaps driving up its price.
Role of Market Makers in Increasing XRP Demand
Market makers play a critical role in enabling these transactions as they must keep XRP reserves to match market demand. As global ODL transactions expand, so does demand for XRP among market makers, resulting in increasing token accumulation. This increased demand, combined with the restricted supply of the token, is expected to put upward pressure on its price.
Crypto Ery's Comment on ODL
Additionally, popular Ripple advocate Crypto Ery commented on Ripple’s response in the SEC case documents, claiming that ODL is price neutral. He also mentioned that Bob Way had quit Ripple before the ODL flow was switched to a Ripple-managed wallet.
Support for XRP from Financial Institutions
Previously, it was reported that Ripple had signed 1,700 non-disclosure agreements (NDAs) with financial institutions, allowing XRP to be transferred to contractual counterparties in various commercial operations. At the time of writing, the Ripple token is trading around $0.6019, down 2.14% over the last 24 hours after briefly approaching $0.610. The daily trade volume is $1.265 billion.
Analysts forecast a potential breakout for XRP, which might spark bullish momentum not seen since 2016–2017, perhaps boosting the token’s price above $200.
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