TLDR
- XRP spot trading is now available on Hyperliquid through the launch of FXRP.
- The FXRP/USDC trading pair marks XRP’s first listing on Hyperliquid’s on-chain spot markets.
- FXRP is a bridged version of XRP created using Flare’s FAssets system and LayerZero’s OFT standard.
- Traders can now gain on-chain XRP exposure without relying on off-chain custody solutions.
- The listing maintains XRP Ledger as the primary settlement layer while expanding XRP’s DeFi reach.
XRP spot trading has officially launched on Hyperliquid’s on-chain orderbook, allowing direct exposure to XRP via FXRP/USDC. The integration uses Flare’s FAssets system and LayerZero’s OFT standard to bridge XRP across chains. This move brings XRP into a fully on-chain spot trading environment without altering its existing settlement framework.
FXRP Launch Brings XRP to Hyperliquid’s Spot Markets
Flare announced the listing of FXRP on January 7, enabling XRP spot trading through the FXRP/USDC pair on Hyperliquid. This marks the first instance of XRP exposure within Hyperliquid’s fully on-chain infrastructure. The platform previously focused on decentralized perpetuals but has now expanded its spot capabilities.
FXRP operates as a bridged version of XRP issued through Flare’s FAssets protocol and uses LayerZero’s OFT standard. This setup allows XRP to move across Flare, trade on-chain, and return to the XRP Ledger. As a result, traders gain direct exposure to XRP without relying on off-chain custodians.
Hugo Philion, Flare’s co-founder, stated, “FXRP on Hyperliquid expands XRP’s utility while keeping its existing settlement model intact.” This design allows XRP to function across multiple chains without changing its original trust structure. The listing integrates XRP with Hyperliquid’s efficient, high-volume trading infrastructure.
Hyperliquid Expands Spot Capabilities With FXRP
Hyperliquid uses an orderbook system instead of AMMs, supporting better price discovery during volatile market conditions. Its high-performance Layer 1 architecture supports billions in daily volume and low-latency transactions. Now, XRP spot trading joins other supported assets like BTC, ETH, SOL, and USDC.
In 2025, Hyperliquid reported $2.9 trillion in trading volume and gained 609,000 new users. The platform also saw $3.8 billion in net inflows, indicating steady growth in demand for decentralized trading. With FXRP added, spot markets continue growing alongside its dominant perpetual products.
Recent data shows Hyperliquid recorded $169 million in 24-hour volume, with spot trading contributing a rising share. The addition of FXRP enables spot positions to be managed in parallel with perpetuals. This supports more advanced trading strategies within a single environment.
FXRP maintains XRP custody while extending its usage into decentralized finance without compromising its canonical settlement layer. Traders can now execute spot strategies directly on-chain. This bridges the gap between XRP’s traditional role and the evolving DeFi ecosystem.
Hyperliquid’s infrastructure supports scalable trading, combining speed and transparency with full-chain execution. The orderbook system enhances execution quality during high-volume periods. This helps traders reduce slippage and improve trade efficiency.
The platform continues adding assets to strengthen its spot market offering. FXRP now allows seamless XRP exposure without leaving the chain. This expands the asset’s reach across institutional and retail trading.
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