Flare Network (FLR) Jumps on Uphold Partnership and XRP Staking Launch, Eyes Further DeFi Growth

Published: 2025-06-02 09:02:47 |

Flare Network (FLR), a decentralized Layer 1 blockchain compatible with Ethereum Virtual Machine (EVM), has experienced renewed bullish momentum following a strategic partnership with trading platform Uphold. The collaboration enables XRP staking via Flare’s smart contract infrastructure, allowing Uphold users to earn yields on their XRP. This news triggered a third consecutive day of gains for FLR, with a 12% surge to $0.0198, a market cap increase to $1.25 billion, and a 160% jump in trading volume. Derivative market data reflects rising optimism, as FLR futures open interest hit the highest since May 23 and the buy-to-short ratio stands at 1.06. Technical analysis reveals FLR has broken out from a bullish continuation pattern, trades above the 50-day moving average, and is approaching a golden cross, with MACD and Supertrend indicators suggesting further upside. Price targets are set at $0.024 (26% upside), with next resistance at $0.034, while failure to hold $0.016 could trigger a retracement to $0.011. The FLR uptrend and spike in retail interest also follow the launch of FAssets on the mainnet, enhancing DeFi opportunities for XRP, BTC, and DOGE holders. Price predictions for 2025 and 2030 remain wide, reflecting both optimism from recent network innovations and caution about market risks. Traders are advised to monitor further technical signals and ongoing network developments for decisive moves.

Bullish

The partnership between Flare Network and Uphold to introduce XRP staking via smart contracts has generated significant bullish sentiment for FLR, evidenced by a multi-day price rally, increased trading volumes, and heightened futures open interest. Technical indicators—including the breakout above the 50-day moving average, bullish MACD, Supertrend readings, and a potential golden cross—point to further short-term strength. The successful rollout of FAssets on the mainnet also expands DeFi opportunities, driving more activity and utility for the network. While long-term predictions remain mixed, immediate market impact is categorically bullish due to strengthened fundamentals, rising demand, and robust technical signals. However, traders should remain cautious of potential retracements, especially if key support levels are breached.