So, FLR, the native token of the Layer-1 blockchain Flare, is throwing a little party, and guess what? It’s showing some early signs of a bullish breakout! 🎉 All thanks to its new BFF, a NASDAQ-listed company. Who knew crypto could be so social?
In a post on June 11 (because who doesn’t love a good announcement?), Flare decided to team up with VivoPower International, a multinational sustainable energy firm. They’re planning to generate yield on VivoPower’s XRP holdings. Sounds fancy, right? 💼✨
VivoPower is kicking things off with a cool $100 million XRP through Flare’s native protocols like Firelight. They’re reinvesting that income into their core XRP holdings to create a “perpetually compounding and capital-efficient” treasury. Because who doesn’t want their money to work harder than they do? 💸
For Flare, this partnership is like getting a gold star for showing it can support institutional-grade utility for XRP. It’s a big deal, folks! 🌟
And let’s not forget about Flare’s FAssets system, which is basically the superhero that allows non-smart contract tokens like XRP to mingle with DeFi protocols while keeping their native security models intact. Talk about a match made in crypto heaven! 😇
But hold your horses! Despite all this positive news, Flare (FLR) only managed a modest price move, gaining a whopping 5.5% to hit an intraday high of $0.0192 before settling at $0.0188. I mean, come on, FLR, we were expecting a little more pizzazz! 🎈
At press time, its market cap was around $1.27 billion. Not too shabby! But daily trading volume surged over 120% compared to the previous day, which means people are definitely paying attention. 👀
FLR Price Analysis
From a technical perspective (because we love to sound smart), FLR seems to be trading within an ascending parallel channel that’s been forming since June 5. A breakout from this structure could set the stage for a sustained upward move. Fingers crossed! 🤞
The 20-day and 50-day simple moving averages have formed a golden cross. Yes, you heard that right! A classic signal that suggests upward momentum may be building. And momentum indicators like the MACD and RSI are also trending upwards. It’s like a crypto party in here! 🎊
If this bullish momentum keeps going, the next key resistance is near the $0.02 psychological level, which also aligns with the 61.8% Fibonacci retracement level. A confirmed breakout above this zone could validate the pattern and fuel further gains. Let’s hope it’s not just a pipe dream! 💭
But if it pulls back, support is expected near the $0.0185 level. A sustained drop below this threshold could invalidate the upside setup and lead to a retest of the 50-day SMA around $0.0181 before any potential recovery. So, keep your eyes peeled! 👀
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2025-06-12 11:07