Gate News reports that Flare Network co-founder Hugo Philion predicted last year that the value of XRP locked on its blockchain would reach $1 billion and mentioned it could potentially exceed $5 billion this summer. However, on-chain data shows that since the launch of the Flare XRP DeFi ecosystem six months ago, the average number of new daily users has only been around 76, with a median of 33, which is significantly below expectations.
Flare Bridged XRP (FXRP) is set to launch in September 2025, aiming to bring XRP into the DeFi ecosystem, but its actual performance has not met predictions. New users refer to wallets that interact with the FXRP ecosystem for the first time through actions such as minting, exchanging, burning, lending, or repaying. So far, on over half of the days, there have been fewer than 50 new users. Although there was a brief surge in the initial launch period due to the integration of the Xaman wallet or the release of FAssets, it quickly fell back, with an average daily increase of users below 60.
The network’s native token FLR has also shown weak performance. After a significant sell-off following its airdrop in January 2023, the price has dropped from the first day closing of $0.04 to $0.0079, a cumulative decline of over 80%, reaching an all-time low. The 4.28 billion FLR airdropped to XRP holders has been diluted to 85 billion over three years, yet it has not spurred ecosystem growth.
Currently, the circulating supply of FXRP is approximately 138 million, and the total size of bridged assets is only $190 million, with daily active users far below expectations, significantly missing Philion’s previously stated $1 billion locked asset target. Analysts point out that the growth of Flare XRP DeFi is stagnating, with new daily users even falling short of the dinner traffic at some restaurants, indicating that the ecosystem still faces significant challenges in user expansion and asset locking.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Kalshi Traders Forecast XRP to Hit $1.60 in April
Kalshi traders predict XRP will reach $1.60 in April amid rising demand and significant ETF inflows. With a bullish technical outlook and upcoming regulatory votes, XRP's market dynamics show potential for further gains, despite risks of declining support levels if outcomes are unfavorable.
CryptoFrontier2h ago
Cardano Founder Hoskinson Claims XRP Holders Have No Legal Rights to Ripple's Assets
Cardano's Charles Hoskinson claims XRP holders lack legal rights to Ripple's assets, emphasizing the company's control over XRP distribution. This has sparked tensions with the XRP community and questions about who benefits in company-tied cryptocurrencies.
GateNews2h ago
XRP ETF Inflows Surpass $1.5 Billion Milestone as Institutions Accelerate Adoption
XRP ETFs surpassed $1.5 billion in inflows, fueled by growing institutional adoption post-Ripple's SEC settlement in 2025. Major firms launched products, and investor interest remains strong, with projections suggesting continued growth for XRP in the coming year.
GateNews5h ago
Rakuten Pay Integrates XRP for Payments and Loyalty Use
Rakuten will integrate XRP payments for 44 million users, linking the token to over 5 million merchants in Japan. Users can convert loyalty points to XRP, facilitating everyday spending and enhancing real-world adoption of crypto.
CryptoFrontNews8h ago
XRP Evolves From Bridge Asset to DeFi Collateral, Says Evernorth CEO
Evernorth CEO Asheesh Birla is shifting XRP's role from a settlement tool to a productive asset in decentralized finance, focusing on capital efficiency. The company aims to activate dormant capital through initiatives like native XRP lending, positioning XRP as a key player in credit markets.
CryptoFrontier16h ago
XRP Rallies to $1.48 Amid Iran Deal and Ripple Banking News
XRP price rose to $1.48 on April 17, up 4.51% over the last 24 hours, as stronger trading activity, easing geopolitical tension, and Ripple-related banking developments supported sentiment, according to market data. Daily trading volume increased 14.35% to $4.52 billion, while the token's market
CryptoFrontier17h ago
