- XRP community members, including investor Yassin Mobarak, express deep disappointment with XRP’s performance compared to other altcoins.
- Flare CEO Hugo Philion suggests that XRPL’s programmability, enabled by Flare, Hooks, and sidechains, could rejuvenate XRP.
The XRP community is currently grappling with a sense of disillusionment regarding the cryptocurrency’s performance, a sentiment echoed by Yassin Mobarak, a notable XRP enthusiast and founder of Dizer Capital VC. This concern comes despite the U.S. court dismissing the majority of accusations against Ripple and its key executives in the SEC lawsuit.
Having been in the #XRPCommunity for a very long time, I can honestly say I've never seen so many in the community so deflated, so frustrated and angry; hopelessness permeating through many posts.
This is actually worse than the time we were in the midst of fighting the SEC…
— Yassin Mobarak 🪝 (@Dizer_YM) January 21, 2024
Community Discontent Amidst Market Dynamics
The sense of frustration within the XRP community is palpable, with Mobarak highlighting a prevailing sense of disappointment, especially when juxtaposed with the performance of other altcoins in the post-ETF approval rally in the U.S. He laments,
“That vision of a promised land is now getting crushed by the reality of $XRP impotence; and by the wave that is carrying other alts while leaving $XRP behind slowly drowning.”
This sentiment reflects a growing concern among XRP holders about its stagnation in a burgeoning crypto market.
Flare CEO’s Perspective: A Technological Turnaround
Amidst this backdrop of disappointment, Hugo Philion, CEO and founder of Flare (FLR) – a Ripple-backed, EVM-compatible layer-1 blockchain – has weighed in with a potential solution. Philion emphasizes the critical role of XRPL‘s programmability, a feature he believes could revitalize XRP. By introducing functionalities like Flare, Hooks, and sidechain activation on top of XRP Ledger, there’s a potential for XRP to regain its footing in the cryptocurrency conversations.
Philion’s remarks come at a time when community excitement around XRP seems to be overshadowed by ‘hopium’, and contrasts starkly with supporters of other cryptocurrencies who regularly underscore the advantages of their respective tokens. For instance, a Solana (SOL) meme coin enthusiast recently highlighted the potential short-term benefits of meme coins like Myro (MYRO) over holding XRP. Mobarak himself acknowledged the logic in this thesis, highlighting the diverse opinions within the cryptocurrency community.
Currently, XRP is trading at $0.53, witnessing a 3.5% decrease in value overnight. This price movement underscores the ongoing challenges faced by XRP, even as the community and industry leaders like Philion seek avenues to restore its vitality and relevance in an increasingly competitive digital asset market.
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