A new spot product for XRP just went live on Hyperliquid, giving investors another way to gain exposure through one of the most active decentralized exchanges in the market.
The launch, seen as a bullish development for XRP price predictions, comes courtesy of Flare, a Layer-1 blockchain focused on cross-chain interoperability.
Their new token, FXRP, is designed to integrate XRP into the Hyperliquid ecosystem, expanding access and utility for one of crypto’s most closely watched assets.
Through this token, investors will be able to buy XRP on Hyperliquid’s spot market for the first time since the platform was launched.
FXRP is a wrapped version of Ripple’s native asset that is fully collateralized by XRP. Investors can redeem the token for the underlying asset at any given point on the XRP Ledger as well. Dhruv Shah, an analyst for Flare, explained that the launch is part of a move to make the token EVM-compatible.
With this new token, investors will also be able to earn yield on their XRP holdings through Flare’s earnXRP program.
This program offers an 8% annual percentage yield (APY), and it is available on the Flare Network.
XRP Price Prediction: Fibonacci Retracement Sets Key Support at $2.03
In the past week, XRP has gone up by 12% as the crypto market bounced back strongly since the year started.
Source: TradingViewHowever, the price just hit a sell wall once it reached the 200-day exponential moving average (EMA). It now seems headed to retest the $1.90 area to see if buying interest is still strong enough.
The $2.03 area is the key support to watch as this coincides with the 61.8% Fibonacci level. This is the lowest this pullback may go to keep the uptrend alive.
If the price bounces off this mark, then XRP could soon retest the 200-day EMA. In that case, the odds of a bullish breakout will rise rapidly. In that case, a quick move to $3 will be highly likely as well.
New projects like Flare tend to attract significant attention with this kind of innovation. Similarly, a top crypto presale called Bitcoin Hyper ($HYPER) has raised over $30 million to launch the first real Bitcoin L2, built on Solana.
Bitcoin Hyper ($HYPER) Taps on Solana’s Efficiency to Unlock BTC’s Full Potential
Bitcoin Hyper ($HYPER) is a scaling protocol for the Bitcoin OG blockchain that leverages Solana’s low fees and fast transaction processing speeds to kickstart a new era for Bitcoin’s DeFi ecosystem.
BTC holders will be able to access a growing list of decentralized apps through this L2 without having to move their assets out of the Bitcoin blockchain.
Investors will get the chance to earn yield, stake, and lend their BTC like never before.
With top wallets and exchanges beginning to pay attention to Bitcoin Hyper, demand for its native token $HYPER is expected to climb quickly.
To buy $HYPER at its discounted presale price, simply head to the official Bitcoin Hyper website and link up any compatible wallet (e.g. Best Wallet).
You can either swap USDT or SOL for this token or use a bank card to invest in seconds.
Visit the Official Bitcoin Hyper Website HereThe post XRP Price Prediction: Spot Trading Arrives After Years of Waiting, Is This the Missing Piece for XRP Bulls? appeared first on Cryptonews.
