Announced new today from South Korea-based bitcoin exchange Coinone is notice of the official launch of Ripple (XRP) trading. The date of listing will be next Monday, May 15th.
Ripple (XRP) is a unique encryption currency used in the ‘Ripple protocol’, which is emerging as a next-generation global payment network. Through this token and Ripple’s distributed financial technology, anyone in the world can send payments in seconds and cross-border.
KRW and SGD currencies will be supported in transactions to deposit into XRP. Margin trading is expected to open sometime in the future with support from only KRW.
Transaction Fees – Will apply as same as every other cryptocurrency. However, because Coinone is a partner of Ripple Labs, there will be an introductory 0% fee schedule.
Fee Rebate – Users can trade Ripple (XRP) on Coinone for a full fee rebate which means 0% commission. Once the total amount of all rebates from the exchange reach USD $25,000, the fee rebate event will end. Once the limit is reached, the fee on XRP trading will be applied as normal.
XRP has rocketed in price in the last days to at one point on Monday overtake ETH as the number two cryptocurrency by market cap but has since fallen back to number three.
In the last 24-hours from the time of writing XRP has shot up more than 40 percent against USD and others, top markets from XRP are shown below:
XRP/USD is now trading at around 0.1900 at the time of writing. Below from RippleCharts is the all-time XRP/USD chart using Bitstamp data: