XRP has seen a sharp rise in 2024, the cryptocurrency seems to be getting out of its legal problems with the SEC.

The prospect of a more lenient federal government in the US has been a major contributor to its recent success. However, there is still a long way to go before its protocols are widely adopted.

Some tools or other cryptocurrencies could, however, take advantage of the success of XRP. This is the case of Flare (FLR). Flare (FLR) is a versatile cryptocurrency used on the Flare network, a layer 1 blockchain that prioritizes blockchain interoperability and smart contract capabilities. The FLR is used for various purposes, including voting, staking, wrapping other tokens and encouraging participation in the network through the Oracle Flare Time Series (FTSO). The token is designed to be distributed through the FTSO, with a proposed inflation adjustment to ensure sustainable token savings. The Spark Token (FLR) was created by Ripple, Inc. in December 2020. It is the native cryptocurrency of the Flare Network, a system designed to extend the smart contract network to the XRP ecosystem. Flare uses the Ethereum virtual machine (EVM) to run smart contracts and a consensus algorithm similar to that of the XRP ledger.

If the XRP network is to expand, it is very possible that the Flare ecosystem will become important which could at the same time boost the price of Flare. This is obviously only an assumption but it seems very likely.