Flare’s FLR token flashes early breakout signal after XRP-linked partnership

$FLR, the native token of Layer-1 blockchain Flare, is showing early signs of a bullish breakout following its partnership with a NASDAQ-listed company.

In a June 11 post on X, Flare announced that it is teaming up with VivoPower International, a multinational sustainable energy firm, to help generate yield on VivoPower’s $XRP holdings.

VivoPower will initially deploy $100 million $XRP through Flare’s native protocols like Firelight, and reinvest that income into its core $XRP holdings to create a “perpetually compounding and capital-efficient” treasury.

For Flare, the partnership represents a significant milestone in demonstrating the network’s capacity to support institutional-grade utility for $XRP.

The collaboration also highlights the growing relevance of Flare’s broader infrastructure, particularly its FAssets system, which enables non-smart contract tokens like $XRP to interact with DeFi protocols while preserving their native security models.

Despite the positive news, Flare ($FLR) recorded only a modest price move, gaining 5.5% to reach an intraday high of $0.0192 before settling at $0.0188.

At press time, its market capitalization stood at approximately $1.27 billion. However, daily trading volume surged over 120% compared to the previous day, indicating heightened market activity and growing interest.

$FLR price analysis

From a technical perspective, $FLR appears to be trading within an ascending parallel channel that has been forming since June 5. A breakout from this structure could set the stage for a sustained upward move.

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$FLR price, 20-day and 50-day SMA — June 12 | Source: crypto.news

The 20-day and 50-day simple moving averages have formed a golden cross, a classic signal that suggests upward momentum may be building.. Momentum indicators such as the MACD and RSI are also trending upwards, further supporting the positive outlook.

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$FLR MACD and RSI chart — June 12 | Source: crypto.news

If the bullish momentum continues, the next key resistance lies 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.

Conversely, 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.