- 2021 was one of the strongest years for Ripple, with the on-demand liquidity platform seeing a 25-fold growth in transactions.
- The rise in on-chain activity and the increase in the number of partner countries on the ODL network point to the growth of Ripple.
- The price of XRP surged in double digits over the Christmas holidays, fueling the narrative amongst investors.
Despite the legal battle with the SEC, Ripple celebrated a stellar year in 2021. The global payments giant has developed its platform for on-demand liquidity and forged new partnerships over the past year.
Ripple has ‘strongest year ever’, seeing explosive growth in ODL
Brad Garlinghouse, CEO of global payments giant Ripple, announced the company’s performance and commented on the Securities and Exchange Commission (SEC) case against Ripple.
Garlinghouse notes that the On-Demand Liquidity (ODL) platform accounts for 25% of the total transaction volume on RippleNet. Transaction volume on Ripple’s ODL platform has increased 25 times since the third quarter of 2020. The quarterly growth of 130% indicates an increase in the platform’s popularity and utility.
Garlinghouse was quoted as saying,
All this growth came from outside the US for obvious reasons (sigh).
The ODL platform was first launched between Japan and the Philippines, followed by the Middle East. On-chain activity on the platform continues to rise, increasing the usefulness and adoption of XRP as the original token.
Cryptocurrency analysts at the ‘Mickle Markets’ YouTube channel assessed the direction of XRP’s price and predicted that the altcoin would become parabolic once it crosses the resistance at $1.10 and enters the key breakout area.
The analyst is bullish about Ripple price growth if the altcoin continues to trade sideways within the symmetrical triangle.
Analysts noted double-digit growth in the price of Ripple over the Christmas holidays. Ripple price recorded a 10.6% gain over the past week, and the upward trend could continue based on expectations.
FXStreet analysts noted that the altcoin price reached $1, forming a local top.