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Flare (FLR) Price Up 7% Amid XRP Integration News

Flare (FLR) Price Up 7% Amid XRP Integration News

Flare (FLR) is bullish after its co-founder Hugo PHILION shared news of XRP integration into its network. At the time of writing, the FLR price has jumped 7.1% over the past 24 hours to $0.03175. The price rose 10% over the weekend as bulls weighed in the impact of XRP on the protocol. Despite their close association with Ripple Labs, FLR and XRP do not have unique ways to interoperate, an integration problem that Philion and his team are now looking 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 will strengthen the protocol’s capabilities to provide flexibility to the developer community. Thanks to the LayerCake protocol, Flare developers can build dApps that will connect users to other broader ecosystems, providing versatility that can truly showcase the uniqueness of the innovation of the oracle provider. Philion did not disclose the exact timeline of integration.

Since Judge Analisa TORRES declared the coin a non-security in July last year, XRP is now the only altcoin officially recognized by law as a non-security. Notably, the SEC is still pursuing litigation in which most of the top tokens have been found to be investment contracts. This gives Flare very good protection if it completes the XRP integration. According to Philion, the integration will allow Flare to push decentralized data to Hooks-enabled protocols on the XRP Ledger.

Image: Kraken Blog