Flare CEO Hugo Philion tells XRP holders to stop leaning on Ripple
In brief
- Flare CEO Hugo Philion criticized recent XRP FUD in a post on X.
- Philion urged holders to stop judging XRP's future by Ripple's actions.
- Philion pitched Flare as a way to make XRP less dependent on Ripple.
- XRP traded at $1.16 at press time, down roughly 50% over the past year, per U.Today.
Three questions for XRP holders
Philion's post took aim at a familiar habit: XRP holders evaluating the token's future based on Ripple's actions. He doesn't think that's the right lens.
He said holders should instead focus on improving XRP's usability, and he framed it around three main questions. The first two were what holders are actually doing to use their XRP and how they can convince potential investors to hold it. The third went further. Philion said the community should find a way to turn XRP from a mostly speculative asset into usable capital.
"The value and narrative of XRP should never have been viewed as being dependent on the actions of a single actor"
It's a pitch as much as a critique.
Philion also invited XRP holders to try Flare, describing it as a way to make XRP less dependent on Ripple (Flare is, of course, his own company, so these are his views rather than settled fact).
The FLR question
The thread didn't stay on XRP for long. One X user asked whether FLR holders were doing enough to show the token's value, since XRP holders can use Flare's DeFi ecosystem without buying FLR.
Philion rejected the idea that FLR isn't needed when using FXRP (a tokenized version of XRP on Flare). In his telling, Flare Smart Accounts abstract away the need to manage FLR, while FLR is still used to pay transaction fees on the underlying networks. He added that there should be more use cases for FLR beyond transaction fees over the long term. Those are Philion's own descriptions of the fee mechanics, as reported by U.Today.
XRP's backdrop
The comments come during a rough stretch for the token. U.Today reported that XRP's price fell by around 50% over the past year and stood at $1.16 at press time.
Philion isn't the only one fielding questions about it, either. The outlet also reported that Ripple's former CTO David Schwartz faced criticism over XRP's performance and said his influence on the XRP price was very limited.
