XRP News Today: Flare Network's $FLR Surges 9.6% on Institutional Backing, DeFi Expansion

Flare Network’s native token $FLR has surged 9.6% in a single day, trading at $0.02513, driven by institutional partnerships and growing DeFi adoption. The blockchain platform, designed for decentralized interoperability, has launched FTSOv2 (Flare Time Series Oracle v2) and expanded its ecosystem through integrations with SparkDEX, TrustSwap, and Team Finance. These developments, alongside a $100 million XRP deployment by NASDAQ-listed VivoPower, signal strong institutional confidence in Flare’s vision to bridge traditional finance (TradFi) and decentralized systems [1].

The network’s core innovations, including the State Connector protocol and FAssets Incentive Program, aim to enhance cross-chain data validation and modular DeFi solutions. A key milestone was the partnership with Uphold to introduce XRPFi, a DeFi suite enabling XRP staking and lending on Flare. This collaboration expands XRP’s utility and positions Flare as a hub for asset tokenization and yield generation. Additionally, BitGo’s custody solutions now support institutional access to $FLR and $SGB, further solidifying Flare’s global appeal and security infrastructure [1].

DeFi adoption on Flare has accelerated, with Tether’s USD₮0 omnichannel stablecoin attracting over $60 million in minting volume by early May. The platform’s total value locked (TVL) stands at $134 million, supported by 482,000 active addresses. These metrics highlight Flare’s role in simplifying DeFi transactions and increasing liquidity, particularly for projects seeking token launch and management tools [1].

Market analysis reveals mixed signals. While $FLR’s 30-day price increase of 47% reflects sustained momentum, recent selling pressure has pushed the token below key Fibonacci retracement levels, currently trading at $0.02355. Order-flow data shows aggressive bearish activity, with heavy red deltas dominating 15-minute candlesticks. Technical indicators, including a cooling RSI (63) and flattening MACD, suggest waning buyer aggression. However, the broader uptrend remains intact if support at $0.0220–$0.0230 holds, aligning with the 61.8% retracement level [1].

Flare’s ecosystem growth, backed by institutional capital and strategic integrations, underscores its potential to reach the $0.03 price target cited in the title. With a market cap of $1.7 billion and a 24-hour trading volume of $112 million, the network’s focus on interoperability and TradFi integration positions it as a key player in the evolving blockchain landscape.

Source: [1] [Flare Network Eyes $0.03: Institutional Backing, DeFi Growth Fuel $FLR’s Momentum] [https://cryptonews.com/news/flare-network-eyes-0-03-institutional-backing-defi-growth-fuel-flrs-momentum/]