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XRP spot trading is now live on Hyperliquid with Flare's FXRP listing
FXRP allows XRP to be traded on Hyperliquid's onchain orderbook and can later be bridged back to the XRP Ledger.
Updated Jan 7, 2026, 5:49 p.m. Published Jan 7, 2026, 5:25 p.m.
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What to know:
- Flare has launched the first XRP spot market on Hyperliquid, starting with an FXRP-USDC trading pair.
- FXRP allows XRP to be traded on Hyperliquid's onchain orderbook and can later be bridged back to the XRP Ledger.
- The new listing provides XRP holders with access to a deep onchain spot venue while maintaining decentralized custody.
Interoperability blockchain Flare said Wednesday it launched the first XRP spot market on Hyperliquid by listing FXRP for spot trading, starting with an FXRP-USDC pair.
The listing is the first time traders have been able to get XRP spot exposure on Hyperliquid’s onchain orderbook, per a release shared with CoinDesk. Hyperliquid is an onchain trading platform built on its own high-performance Layer-1 blockchain, with trading volumes crossing $185 million in the past 24 hours.
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FXRP is an XRP representation enabled by Flare’s FAssets system and LayerZero’s omnichain token standard, which allows the token to move across chains, trade on Hyperliquid, and later be bridged back toward the XRP Ledger through an onchain flow.
Flare co-founder Hugo Philion said the goal is to expand where XRP can be used without treating custody as an offchain assumption.
“By combining Flare’s FAssets infrastructure with Hyperliquid’s orderbook, we are expanding what XRP can do across DeFi while preserving XRPL as the canonical settlement layer,” Philion said.
Hyperliquid has built its market structure around an orderbook model rather than the automated market maker pools that dominate most DeFi venues. That structure can offer tighter spreads and more reliable execution when trading activity is heavy, which is why spot listings can matter for larger participants looking to hedge perps exposure or manage risk across venues.
Flare said FXRP will route to Hyperliquid through its HyperEVM layer and then into HyperCore for spot trading. A dedicated bridge using Flare Smart Accounts is expected to follow, enabling one-click withdrawals back to the XRP Ledger as XRP.
The pitch is straightforward for traders. XRP holders gain access to a deep onchain spot venue with familiar execution tools, while Hyperliquid-native users get a new large-cap asset without needing to onboard through centralized custody or a separate chain.
Flare said FXRP can also be bridged back to Flare after trading to access XRPFi uses such as lending and staking, keeping the cycle onchain end-to-end.
