Observation: $R(x)$ satisfies $xR(x)=x^{-1}R(x^{-1})$ iff $A(x):=xR(x)$ satisfies $A(x)=A(x^{-1})$.
The map $\overline{p(x)}=x^{-\deg p}p(x^{-1})$ satisfies the following three properties:
$$\overline{\overline{p(x)}}=p(x)\quad{\rm and}\quad \overline{p(x)q(x)}=\overline{p(x)}\,\,\overline{q(x)} \quad{\rm and}\quad \overline{\lambda}=\lambda.$$
Suppose that $\overline{\wp}=\lambda\wp$ for some scalar $\lambda$. Then $\wp=\overline{\overline{\wp}}=\overline{\lambda\wp}=\lambda\overline{\wp}=\lambda^2\wp$, so $\lambda=\pm1$. Suppose we have a rational function $A(x)\in F(x)$ invariant under $x\leftrightarrow x^{-1}$. As $F[x]$ is a UFD, $A$ factors as
$$\begin{array}{ll} A(x) & =x^n\left[\prod_\pi \pi(x)^{e(\pi)}\left(x^{\deg \pi}\pi(x^{-1})\right)^{\ell(\pi)}\right]\prod_\wp \wp(x)^{h(\wp)} \\ & = x^{-n}\left[\prod_\pi \pi(x^{-1})^{e(\pi)}\left(x^{-\deg \pi}\pi(x)\right)^{\ell(\pi)}\right]\prod_\wp \wp(x^{-1})^{h(\wp)} \\ & = \pm\, x^{\large\left(-n-\sum\limits_\pi [e(\pi)+\ell(\pi)]\deg \pi-\sum\limits_\wp h(\wp)\deg\wp\right)}\left[\prod_\pi \pi(x)^{\ell(x)}\left(x^{\deg \pi}\pi(x^{-1})\right)^{e(\pi)}\right]\prod_\wp \wp(x)^{h(\wp)}\end{array}$$
$$\begin{array}{ll} \iff & e(\pi)=\ell(\pi),\quad n=-\sum_\pi e(\pi)\deg\pi-\frac{1}{2}\sum_\wp h(\wp)\deg\wp,\quad \prod_\wp(\underbrace{\wp^{-1}\overline{\wp}}_{\pm1})^{h(\wp)}=1 \\ \iff & A(x)=\left[\prod_\pi \left(\pi(x)\pi(x^{-1})\right)^{e(\pi)}\right]\prod_\wp \left(x^{-(\deg\wp)/2}\wp(x)\right)^{h(\wp)}\end{array} $$
up to rescaling. Here we have grouped terms so that $\pi,\overline{\pi},\wp$ exhaust all irreducibles (up to scaling) each exactly once, and $\wp$ covers all irreducibles with $\overline{\wp}=\pm\wp$. Clearly the $\wp$ and their exponents $h(\wp)$ must be chosen in such a way that $\prod_\wp(\wp^{-1}\overline{\wp})^{h(\wp)}=1$ and $\sum_\wp h(\wp)\deg\wp$ is even.
Now let's narrow our focus down to $F={\bf R}$. The irreducibles are all linear or quadratic. One quickly checks that the only irreducibles with $\overline{\wp}=\wp$ are $x^2+ax+1$ with $a\in(-2,2)$ or $x+1$, and the only irreducible with $\overline{\wp}=-\wp$ is $x-1$, up to scaling. Thus all $A$ are of the form
$$\lambda\times\left[\prod_{i=1}^n(x^2+a_ix+b_i)^{e_i}(x^{-2}+a_ix^{-1}+b_i)^{e_i}\right]\times\left[\prod_{j=1}^m(x+c_j)^{f_j}(x^{-1}+c_j)^{f_j}\right]$$
$$\times\left[\prod_{k=1}^r(x+u_k+x^{-1})^{g_k}\right]\times(x+1)^s(x-1)^tx^{-(s+t)/2}$$
with $a_i^2-b_i<0$ and $b_i\ne1$ for each $i$, $c_j\ne\pm1$ for each $j$, $|u_k|<2$ for each $k$, and $s+t$ even.
Note that $x(x+1)^{-2}$ is not an example of an $R$ satisfying $xR(x)=x^{-1}R(x^{-1})$, but it is easily checkable that the other three examples derive from the final form above.
(We have worked entirely with elements from an abstract algebraic structure, thereby circumventing the need to pay attention to domains of rational functions.)