Advertisement
AD

Main navigation

Flare (FLR) Rebounds 7% on XRP Integration News

Advertisement
Mon, 12/02/2024 - 9:18
Flare (FLR) Rebounds 7% on XRP Integration News
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Flare (FLR) is on a bullish rampage today after news of the integration of XRP on its network was shared by its cofounder, Hugo Philion. At the time of writing, the price of FLR has jumped by 7.1% in the past 24 hours to $0.03175. The price recorded as much as 10% growth over the weekend as bulls weighed in the impact of XRP on the protocol.

Advertisement
FLR 1D Chart. Source: CoinMarketCap

Related
Ripple Grabs 100 Million XRP at Pivotal Moment for XRP Price

Despite its close association with Ripple Labs, FLR and XRP have no unique ways to interoperate, a long overdue integration issue that Philion and his team are now determined to solve. Taking to his official X page, Philion noted that "FXRP will enable XRP to come to Flare and also other ecosystems through LayerCake."

FXRP will serve as a form of wrapped XRP on the Flare network and amplify the moves of the protocol to bring flexibility to its community of developers. With the LayerCake protocol, Flare developers can now create dApps that will connect users with other broader ecosystems, bringing in the versatility that can truly showcase the uniqueness of the innovation of the oracle provider.

While the exact timeline of the integration was not revealed by Philion, the anticipation has already generated massive excitement in the community.

The XRP advantage

In reality, Flare Network is an independent ecosystem that serves the broader digital currency ecosystem. However, a linkup with XRP comes at a very strategic time when the cryptocurrency is undergoing intense evolution.

Related
Ripple-Linked Flare (FLR) Becomes Only Top 100 Crypto With Double-Digit Gains

Since Judge Analisa Torres declared the coin a nonsecurity last July, XRP is now the only altcoin officially recognized by law as a nonsecurity. Notably, the SEC still has pending legal battles that have labeled the majority of the top tokens as investment contracts. This gives Flare a very good hedge if it completes the XRP integration.

According to Philion, the integration will allow Flare to serve decentralized data to Hooks-enabled protocols on the XRP Ledger.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

ElmonX Unveils ‘The Scream’ NFTs by Edvard Munch For The First Time Ever
World's First Bitcoin Layer 2 Conference to Unite East & West in Hong Kong, April 2024
Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Bridging the Data Trust Gap: 2024 RegTech Confab Set to Unlock Africa’s Economic Potential
Our social media
There's a lot to see there, too

Popular articles