Flare Network Launches First Spot Trading for XRP with FXRP on Hyperliquid
- Spot Trading Innovation: Flare Network has launched FXRP trading on Hyperliquid, marking the first-ever spot trading for XRP, which significantly enhances user trading flexibility by breaking the previous limitations of perpetual contracts.
- Infrastructure Breakthrough: Due to XRP's incompatibility with the Ethereum Virtual Machine, Flare developed FXRP as a LayerZero Omnichain Fungible Token, ensuring that wrapped XRP is issued at a 1:1 ratio for trading on Hyperliquid, thereby enhancing interoperability within the DeFi ecosystem.
- Bridge Functionality Coming Soon: Flare announced the upcoming launch of a dedicated FXRP bridge, enabling users to withdraw FXRP to the XRP Ledger with one-click via Flare Smart Accounts, further simplifying user experience and enhancing liquidity.
- Market Potential Unleashed: The introduction of FXRP not only provides a new dimension for XRP trading but also has the potential to attract more users into the DeFi ecosystem, positioning Flare Network more favorably in a competitive market.
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Technical Analysis for FLR
Technical Sentiment Analysis for Flare (FLR) As of , Flare (FLR) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for FLR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, FLR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Flare (FLR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00632 | 0.00741 | 0.00856 | 0.00965 | 0.0108 | 0.0119 | 0.013 |
| Fibonacci | 0.00741 | 0.00827 | 0.00879 | 0.00965 | 0.0105 | 0.011 | 0.0119 |
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