Flare Launches First XRP Spot Exposure on Hyperliquid via FXRP

Flare Network has taken a major step for the XRP ecosystem by launching FXRP, a wrapped version of XRP, as the first spot XRP exposure on Hyperliquid. The initial listing includes the FXRP/USDC trading pair, opening a new chapter for XRP liquidity on onchain orderbook-based platforms.

Until now, XRP trading on Hyperliquid was limited to perpetual futures, with no spot market available. According to Dhruv Shah, DeFi analyst at Flare, this limitation stemmed from XRP’s lack of EVM compatibility, which prevented direct integration with most decentralized spot trading infrastructures.

FXRP addresses this challenge by acting as a 1:1 wrapped representation of XRP, issued through Flare’s FAssets system. Built as a LayerZero Omnichain Fungible Token (OFT), FXRP can move seamlessly across blockchains, trade on Hyperliquid’s orderbook, and later be redeemed back to native XRP on the XRP Ledger.

Flare has also announced plans to launch a dedicated FXRP bridge powered by Flare Smart Accounts, enabling one-click withdrawals from Hyperliquid back to the XRP Ledger. This enhancement is expected to significantly improve usability and adoption.

The FXRP spot listing aligns with Flare’s broader XRPFi strategy, aimed at integrating XRP into decentralized finance ecosystems. Once traded on Hyperliquid, FXRP can be bridged back to Flare to access DeFi use cases such as lending, staking, and yield generation. Flare’s long-term goal is to position FXRP as the preferred XRP representation across DeFi platforms.

Flare has been actively expanding its XRPFi ecosystem in recent months. Collaborations with Upshift Finance and Clearstar led to the launch of earnXRP, a yield product designed to bring XRP into DeFi markets. Meanwhile, Firelight Finance introduced stXRP, a liquid staking token that enables XRP staking on Flare.

Overall, the FXRP launch on Hyperliquid marks a significant milestone for XRP, signaling its evolution from a payments-focused asset into a fully integrated, cross-chain DeFi participant.