XRP Hits Hyperliquid: Institutional Spot Trading Goes Live on Top DEX

XRP has entered institutional-grade on-chain spot buying and selling following the launch of FXRP on Hyperliquid’s spot markets, marking the primary time XRP publicity has been obtainable on Hyperliquid’s totally on-chain orderbook.

The itemizing, introduced by Flare on January 7, introduces an FXRP/USDC buying and selling pair and expands how XRP will be traded, settled, and used throughout decentralized finance with out relying on off-chain custody.

FXRP Listing Brings XRP to Hyperliquid Spot Markets

The itemizing makes XRP spot publicity obtainable on Hyperliquid’s high-performance buying and selling infrastructure, an surroundings higher identified for its dominance in decentralized perpetuals.

FXRP is a bridged illustration of XRP issued via Flare’s FAssets system and deployed utilizing LayerZero’s Omnichain Fungible Token customary.

This setup permits XRP to maneuver from the XRP Ledger onto Flare, transfer seamlessly throughout chains, commerce on Hyperliquid, and return to the XRP Ledger as its canonical settlement layer.

The construction preserves XRP custody whereas extending its usability throughout decentralized finance environments that had been beforehand inaccessible to the asset.

Flare mentioned the launch is designed to place XRP as a programmable, multichain asset with out altering the function of the XRP Ledger as the first belief and settlement layer.

Hugo Philion, co-founder of Flare, mentioned the itemizing brings XRP into one of the liquid and performant on-chain buying and selling environments obtainable, increasing XRP’s attain throughout DeFi whereas sustaining its current settlement structure.

Hyperliquid’s spot markets differ from the automated market maker swimming pools that dominate most decentralized exchanges.

Its orderbook-based design is constructed to deal with larger buying and selling volumes with improved value discovery and execution high quality, significantly in periods of volatility.

This has helped Hyperliquid seize a big share of decentralized derivatives exercise, with the platform surpassing $2.9 trillion in whole buying and selling quantity in 2025 and sustaining a dominant share of on-chain perpetuals all year long.

The platform added greater than 609,000 customers over the yr and recorded $3.8 billion in internet inflows, displaying rising demand from each retail and institutional merchants for decentralized derivatives.

Daily volumes ceaselessly reached into the billions throughout peak intervals, supported by its customized Layer 1 structure and totally on-chain orderbooks.

While derivatives remain Hyperliquid’s core product, its spot markets have grown steadily.

Recent information shows Hyperliquid reporting over $169 million in 24-hour buying and selling quantity, with spot pairs contributing a significant share alongside its native HYPE token and main belongings resembling BTC, ETH, SOL, and USDC.

The addition of FXRP introduces XRP publicity into this surroundings for the primary time, permitting merchants to handle spot positions, hedge alongside perpetuals, and deploy extra superior buying and selling methods with out leaving the chain.

FXRP Volume Jumps, Showing Rising Demand for On-Chain XRP Trading

Market exercise round FXRP has elevated following the launch. CoinGecko information shows that the token is buying and selling round $2.29, with a circulating provide of roughly 86 million tokens and a market capitalization close to $197 million.

Over the previous week, FXRP has gained greater than 20%, whereas 24-hour buying and selling quantity has climbed above $14 million, displaying rising participation as liquidity migrates throughout venues.

For Flare, the mixing strengthens its broader XRP-focused DeFi technique. The community presently holds practically $220 million in whole worth locked, with decentralized trade quantity rising sharply over the previous week.

Seven-day DEX buying and selling quantity on Flare exceeded $84 million, greater than doubling week over week, whereas stablecoin market capitalization on the community has additionally elevated.

Following execution on Hyperliquid, FXRP will be bridged again to Flare to entry lending, staking, and different XRPFi purposes, or returned to the XRP Ledger via upcoming tooling designed to simplify one-click withdrawals.

This buying and selling lifecycle permits customers to bridge as soon as, commerce at scale, and settle again on XRPL with out relinquishing custody at any level.

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