Flare Network has announced that FXRP, its XRP wrapped version, is now live for spot trading on Hyperliquid, marking the first time XRP exposure is available on the platform through a spot pair.
The launch begins with an FXRP/USDC trading pair, with additional stablecoin pairs expected to follow. This development represents the first XRP spot market on Hyperliquid, expanding access to XRP beyond derivatives-only exposure.
The listing is powered by Flare’s FAssets system in combination with LayerZero’s Omnichain Fungible Token standard. This setup allows FXRP to move seamlessly across chains, trade directly on Hyperliquid’s onchain orderbook, and return to its canonical home on the XRP Ledger in a streamlined process.
With FXRP now available on Hyperliquid, both XRP and Flare users gain access to a high-performance spot trading venue while retaining full on-chain custody of their assets.
At the same time, existing Hyperliquid users who may not be part of the Flare ecosystem are given a direct entry point into XRPFi without the need to onboard to new infrastructure. This dual access model is seen as a meaningful step toward broader interoperability between XRP, Flare, and high-liquidity onchain trading venues.
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The FXRP listing represents the first XRP exposure on Hyperliquid and brings the asset to one of the most liquid onchain orderbook-based trading platforms currently available.
Hyperliquid’s orderbook architecture is designed to deliver tighter spreads, deeper liquidity, and advanced execution tools such as limit orders, features typically associated with professional and institutional trading environments.
While FXRP is already integrated across Flare’s decentralized finance ecosystem, Hyperliquid’s high-throughput orderbook is positioned to outperform automated market maker pools in terms of price discovery and execution quality, particularly under higher trading volumes and institutional conditions.
FXRP is deployed as a LayerZero Omnichain Fungible Token, enabling it to route seamlessly to Hyperliquid’s HyperEVM and then into its HIP-1 representation on HyperCore for spot trading. This architecture allows traders to move FXRP efficiently across environments without complex manual bridging steps.
Flare also confirmed that a dedicated FXRP bridge powered by Flare Smart Accounts is expected in the coming weeks. This upgrade will enable one-click withdrawals from Hyperliquid back to the XRP Ledger, preserving FXRP’s canonical anchor to XRPL and simplifying cross-chain asset management.
The introduction of FXRP spot markets on Hyperliquid enables a broader range of trading strategies for XRP exposure. Traders can now combine spot FXRP with perpetual futures to hedge risk, execute directional trades, or manage exposure across multiple venues.
Currently, there is roughly $250 million in open interest on XRP perpetuals across markets, but traders have lacked a native spot venue on Hyperliquid to hedge those positions. The availability of FXRP spot trading addresses this gap and is expected to expand the sophistication and diversity of XRP-related strategies.
By bringing FXRP spot trading to Hyperliquid, Flare is positioning XRP closer to institutional-grade, onchain market infrastructure while maintaining direct ties to the XRP Ledger.
The launch highlights a growing convergence between high-performance decentralized trading venues and interoperable asset systems, signaling a broader evolution in how XRP liquidity and utility are accessed across ecosystems.
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