Flare (FLR) Rebounds 7% on XRP Integration News

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Flare (FLR) Rebounds 7% on XRP Integration News
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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.

FLR 1D Chart. Source: CoinMarketCap

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.

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.

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