Mickle, a respected wealth advisor and market commentator, recently discussed the potential influence of Ripple’s On-Demand Liquidity (ODL) on XRP’s value.
Contrary to some opinions that the buy and sell activities within ODL transactions cancel each other out, Mickle believes that the increased need for market makers to hold XRP will likely drive up its price.
Mickle pointed out that while some critics argue ODL transactions are price-neutral due to the simultaneous buying and selling of XRP, they overlook an important factor. Market makers, responsible for facilitating these transactions, need to maintain reserves of XRP to meet market demands. As global ODL transactions rise, the demand for XRP among these market makers grows, leading to higher accumulation of the token. This increased demand coupled with XRP’s limited supply is expected to exert upward pressure on its price.
In response, Eri, a prominent member of the XRP community, countered Mickle’s viewpoint by citing Ripple’s own court documents. These documents suggest that ODL transactions, involving the purchase and sale of XRP in quick succession, do not significantly impact its market value, as they are effectively demand-neutral.
Eri also noted that Bob Way, who Mickle referenced, left Ripple before major changes were implemented in ODL’s operational framework. Thus, the current system for managing ODL transactions at Ripple may differ significantly from the setup described by Way.
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