Ripple Launches New ODL Corridor with Japan and the Philippines


Ripple (XRP) has announced the launch of its new On-Demand Liquidity (ODL) payment corridor between Japan and the Philippines. SBI Remit, Japanese finance group SBI’s remittance division, partnered with Philippines-based crypto exchange on this project.

The ODL product uses XRP, a connectivity currency, to eliminate pre-tapping into the cryptocurrency’s liquidity. Through its implementation, remittances should become more affordable, which is a significant problem in Japan currently.

SBI’s cryptocurrency trading division, SBI VC Trade, will address the provision of necessary infrastructure to handle remittances sent by SBI Remit.

Meanwhile, SBI has asserted that it will continue to grow its partnership with Ripple. Director of SBI Remit, Nobuo Ando, commented on the development that:

“The launch of ODL in Japan is just the start, and we look forward to continuing to push into the next frontier of financial innovation, beyond real-time payments in just the Philippines, but to other parts of the region as well.”

Japan, the current host of the Tokyo 2020 Olympics, has remained in a devoted business relationship with Ripple.

The Asian giant is currently the top candidate for Ripple’s global headquarters in late 2020. However, this plan is on hold due to the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).

Key Ripple Levels to Watch — July 28

Ripple is currently in the middle of a massive bull rally from the $0.6500 support earlier today. The sixth-largest cryptocurrency is now on the verge of retaking the $0.7500 resistance after five weeks.

XRPUSD – 4-Hour Chart

That said, we expect a bullish continuation over the coming hours above the $0.7500 level as bulls continue to expel sellers and bearish pressure from the market. Any price declines from this level should get repelled by the $0.7000 level.

Meanwhile, our resistance levels are $0.7500, $0.7800, and $0.8000, and our support levels are $0.7000, $0.6500, and $0.6000.

Total Market Capitalization: $1.56 trillion

Ripple Market Capitalization: $33.5 billion

Ripple Dominance: 2.14%

Market Rank: #6


You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.