Flare Network Launches FXRP on Hyperliquid to Close $200M XRP Gap

The Flare Network teases more in the pipeline after revisiting the recent launch of its liquid XRP token for spot trading on Hyperliquid.

Flare’s official account shared this in an X post today, highlighting the major gap that this closed. The tweet emphasized that before the launch, over $200 million in XRP perpetuals open interest (OI) existed on Hyperliquid without a native spot hedge. However, Flare changed that with the listing of FXRP on the DEX trading platform.

• The Flare Network teases that there is more in the pipeline after revisiting the recent launch of its liquid XRP token for spot trading on Hyperliquid.
• Flare emphasized that before the launch, over $200 million in XRP perpetuals open interest (OI) existed on Hyperliquid without a naive spot hedge.
• The Flare Network first announced the FXRP launch on January 7, debuting the first-ever XRP spot market on Hyperliquid.
• Flare Network plans to roll out more products to expand the XRP market globally.

The tweet featured a clip from an interview with Flare Network’s DeFi analyst, Dhruv Shah, with the media outlet “Genfinity.” Furthermore, it reminded the crypto community that the FXRP listing on Hyperliquid closed a major gap, now allowing traders to hedge their on-chain order book with native spot XRP.

The Flare Network first announced this on January 7, debuting the first-ever XRP spot market on Hyperliquid. For context, FXRP is a 1:1 wrapped XRP token that users can bridge to the Flare Network to access decentralized finance (DeFi) functionalities.

Notably, FXRP debuted on Hyperliquid, starting with the FXRP-USDC pair. At the time of writing, this pair has a trading volume of $77,866. Additionally, Hyperliquid has also launched the FXRP/USDH pair.

Flare highlighted that this further expands the reach of XRP tokens. With over $200 million—currently $195 million on the XRP/USDC pair at press time—in XRP perps OI existing on Hyperliquid, the FXRP token would provide spot hedging for traders.

Meanwhile, Flare Network plans to do more to expand the XRP market globally, as confirmed in the Tuesday tweet. The ecosystem is expanding XRP’s presence on Ethereum Virtual Machine (EVM) networks, providing new use cases and strategy layers for enthusiasts, and has pledged to do more.

In the clip, Shash claimed that Flare will be the driver of XRP yields on-chain in collaboration with the new DeFi protocol Firelight. Notably, Firelight launched on Flare in December, enabling institutional-grade staking services for XRP holders.

Shash revealed that Flare is also looking at specific XRP pockets to expand into in 2026 and is building the infrastructure to enable this. This would further strengthen the relationship between the two ecosystems.