Approximately $18 billion worth of transactions were processed through Ripple’s On-demand-Liquidity in 2022, making up for 60% of the nearly $30 billion in volume transacted on the network since RippleNet was launched.

Notably, the growth in the use of Ripple on-demand liquidity (ODL) comes despite a prolonged crypto winter that has XRP plunge by roughly 89% since tapping an all-time high of $3.84 in April 2021, with about 65% of that decline happening in 2022 alone.

XRP’s price has also suffered on the back of the ongoing securities legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple. Nevertheless, with the case now fully briefed, the community have been expecting a favourable ruling before year-end, accumulating the asset in record numbers and helping keep its market cap buoyed in the sixth position.