FXRP is the token that Flare's FAssets system issues against XRP. It went live on Flare mainnet on 24 September 2025 so that XRP holders could use their holdings in lending, borrowing, staking and trading. The XRP asset base is large, with about 63 billion XRP in circulation worth close to $96 billion at the prices used in the report, while the roughly 145 million FXRP in circulation represent about 0.23% of that supply. At that level of penetration every additional 1% of circulating XRP that moves into FXRP would amount to about 630 million tokens, which is more than four times the current FXRP supply and shows how much room the product has to grow from a very small base.

XRP in circulation against FXRP. The 630M figure is our arithmetic (1% of 63B). Source: DefiLlama, 21 October 2026. Chart: Ishan Pandey / HackerNoon.

FXRP Supply Growth Since the September 2025 Launch

Demand arrived at once, since the first-week cap of 5 million FXRP filled in about four hours after launch.…