XRP Spot Trading Goes Live on Hyperliquid via Flare's FXRP
On January 7, 2026, Flare Network launched the first XRP spot market on Hyperliquid, utilizing the FXRP (Flare XRP) wrapped token with a FXRP-USDC trading pair.
How FXRP Works
FXRP is a trustless representation of XRP on other chains, enabled by Flare's data connector infrastructure:
- 1:1 backing — each FXRP is backed by XRP locked on the XRP Ledger
- Cross-chain bridge — FXRP can be bridged back to XRP on the XRP Ledger at any time
- Decentralized custody — no centralized custodian holds the underlying XRP
Significance
This listing is significant for several reasons:
- First XRP spot on a perp DEX — Hyperliquid previously only offered XRP perpetual futures
- Cross-chain innovation — demonstrates the feasibility of bringing non-EVM assets to EVM-based DEXes
- Expanded utility — XRP holders can now participate in Hyperliquid's DeFi ecosystem
Trading Details
- Pair: FXRP/USDC
- Platform: Hyperliquid spot markets
- Settlement: Instant on Hyperliquid L1
- Bridge: FXRP can be minted by locking XRP and redeemed back to XRP
Broader Implications
The FXRP listing on Hyperliquid demonstrates how wrapped token protocols can expand the reach of blockchain-specific assets. If successful, this model could be replicated for other non-EVM tokens, bringing assets like ADA, DOT, and others to Hyperliquid's liquid markets.
Flare has positioned itself as the key infrastructure provider for bringing XRP ecosystem assets to DeFi, with Hyperliquid being the highest-profile integration to date.