XRP News: Uphold Launches New XRP Product With Flare Networks

Uphold has partnered with Flare Networks to launch a new XRP product for the coin’s holders. This product will allow users to earn yield on XRP, offering a new way to interact with the coin beyond basic trading. The move also highlights how the Ripple coin is seeing more support from platforms and companies looking to leverage its utility.

Uphold and the Flare XRP Product

Uphold, a popular trading platform, has partnered with Oracle Protocol and Flare Networks to launch a new product focused on XRP. The product will work with Flare’s FAssets system, which is set to go live on the mainnet soon. 

It is essential to add that this will allow XRP holders to earn yield on their tokens, which was not widely available before.

The collaboration aims to make XRP more useful in the real world by giving users access to Decentralized Finance (DeFi) features. This includes using XRP in new ways, such as staking and earning returns, which many other rival assets already offer.

This launch also amplifies the term “XRPFi” to describe the growing list of DeFi tools tied to the XRP ecosystem. This opens up a new reason for Uphold users to hold the coin, especially as its traditional use grows.

XRP and Institutional Adoption Growing

Webus International has shared plans to raise $300 million using loans and other non-equity financing. 

The money will go toward building an XRP reserve to support its global transport and payment services. The company plans to use the XRP Ledger to help lower transaction costs and speed up international transfers. The plan also includes building wallets and loyalty systems tied to XRP.

VivoPower also announced it is launching an XRP treasury strategy. The company raised $121 million in private funding to support its role in developing more XRP products in the XRPL space. It is also one of the firms suggesting the Ripple coin may be among the few digital assets that could be included in a future U.S. government reserve.

XRP ETF and Price Outlook

According to CoinMarketCap data, XRP, currently the fourth-largest cryptocurrency, is trading at $2.20. The price of XRP has dropped 7% in the past 24 hours, triggering $23 million in long position liquidations. 

This sharp decline has broken XRP’s 18-day tightening range, leading to a new pattern of lower highs and lower lows.

In related XRP news, the U.S. Securities and Exchange Commission is now reviewing WisdomTree XRP ETF proposal. The commission is seeking to collect public feedback on issues like investor protection and market risks. 

This is part of a formal process that gives the SEC up to 240 days to approve or reject the ETF application. If approved, it would be one of the first spot XRP ETFs in the U.S., giving the asset even more mainstream credibility.