Flare CEO Says XRP’s Value and Narrative Should Not Be Seen as Based on Ripple Alone

Flare CEO Hugo Philion urged XRP holders to focus on practical uses for the token, arguing that its value and narrative should not be perceived as resting solely on Ripple’s actions. “XRP’s value and narrative should never have been perceived as being based solely on the actions of one player,” Philion wrote in a post dated Nov. 8. He challenged holders to show prospective holders why XRP is useful and to put the asset to work as capital. He also highlighted Flare as a venue for expanding XRP’s utility. Its FAssets system brings assets such as XRP into decentralized finance on Flare. FXRP, its first live FAsset, represents XRP on the network at a 1:1 ratio and can be redeemed for XRP through the FAssets process.

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