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- Luno has finally added Ripple (XRP) to its tradeable asset roster after a long wait.
- Luno promises that all its customers will be able to make XRP trades on its platform without a hassle and at the same simplicity as its other digital asset offerings.
- The XRP token’s main utility is to be the base for micro-transaction infrastructure and remittances.
The United Kingdom-based cryptocurrency exchange Luno has finally added Ripple (XRP) to its tradeable asset roster after a long wait. The company had made a poll that spanned the entire past year, asking its customers what asset they wanted to see added to the exchange next for trading.
Ripple had the highest number of votes, and finally, a year later, the third-largest cryptocurrency, XRP is joining its bigger brothers, Bitcoin, Ethereum, and Bitcoin Cash on the exchange.
Ripple has a large community following with strong industry partnerships that it is constantly expanding on. The XRP token’s main utility is to be the base for micro-transaction infrastructure and remittances. To achieve this, Ripple, Inc. is often integrating the crypto into different services and businesses in the industry to reach its scope and adoption.
Despite the company’s popularity and massive partnerships, it is currently facing a class-action lawsuit for being touted by Ripple, Inc. as a non-security. Traders claim that the company behind XRP has made endorsements of the cryptocurrency being falsified as a digital asset that can’t be classified as a security asset, with some even referring to it as an ongoing initial coin offering (ICO).
The company has also been accused of strongly manipulating prices of XRP since more than 50% of all circulating XRP is held within the parent company, Ripple, Inc., who have been alleged to dump tokens on the market, driving the value down.
Despite all the controversies surrounding the coin, Ripple, Inc. has somehow managed to keep pushing forward landing higher adoption rates and holding a strong position as the third-largest cryptocurrency by market cap just behind Bitcoin and Ethereum.
Within the first and second week of March, Luno promises that all its customers will be able to make XRP trades on its platform without a hassle and at the same simplicity as its other digital asset offerings. Some of the other cryptocurrencies that Luno’s customers wanted to see added to the exchange according to the poll were Litecoin, Stellar and other smaller altcoins.
Ripple has been a major player in the cryptocurrency market since its release in 2012. Luno has been considered one of the larger and more popular cryptocurrency exchanges in the United Kingdom with a customer base of over 3 million, due to its simplified infrastructure and accessibility. The company is also certified ‘A’ Grade from Crypto Compare, a cryptocurrency comparison site.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
