HomeNewsXRP Community Faces Disillusionment, Flare CEO Offers Technological Respite

XRP Community Faces Disillusionment, Flare CEO Offers Technological Respite

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  • 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.

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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Marcel Knobloch
Marcel Knobloch
Marcel is the managing partner of ETHNews and is also known as Collin Brown in the crypto community. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Marcel endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Marcel's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Marcel continues to be a driving force in the cryptocurrency community. Business Email: marcel.knobloch@hotmail.com Phone: +49 160 92211628