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. FXRP is distinct from native XRP held on the XRP Ledger, and its role in Flare’s decentralized finance ecosystem has included use in supported applications.

Flare Smart Accounts let users initiate certain network actions through XRP Ledger payments without personally holding Flare’s native token (FLR). Flare transactions still require FLR for gas, even when users do not hold it themselves.

Philion’s post offered no data tying increased Flare use to changes in XRP demand or price.