thecryptobasic.com
A long-standing crypto enthusiast who advocated for an XRP buy at 10 cents five years ago has tipped Flare to be the next to rally substantially.
Specifically, King Karan took to X to remind users that he called for an XRP exposure back in 2020. In the viral staged call clip on July 27, he taunted those he advised to buy XRP five years ago but ignored his bullish projection.
He noted that XRP traded at $0.10 at the time he made this call, a price now etched in history. Notably, XRP trended around $0.11 for most of 2020, before its brief rally in 2021. While it failed to mirror a broader market bullish trend during that cycle, it has never returned to 10 cents again.
He based his bullish price prediction on Flare’s adoption prospects. According to the crypto investor, Flare would become the biggest data provider on the blockchain.
For the uninitiated, the Flare network, an EVM-compatible layer 1 chain, utilizes the Flare Time Series Oracle (FTSO) to provide decentralized access to data feeds. The blockchain supplies price and market data of multiple assets, enabling accurate cross-chain interoperability.
Furthermore, King Karam highlighted that a supply shock is on the horizon for Flare, as large amounts of the token will be locked up. However, he did not provide further context for this assertion.
Nonetheless, he noted that these developments would ensure that Flare would reach $1 someday. From its current price of $0.025, this represents a 3,900% surge to the unprecedented price mark.
Is Flare’s Relationship With XRP a Driver?
Notably, Flare is a decentralized finance (DeFi) bridge to the XRP Ledger. The Flare team has debuted several schemes to unlock smart contract features for XRP holders and enhance cross-chain interoperability for the Ledger.
One of which is the Firelight, a liquid staking protocol that allows XRP holders to put their stash to work. The protocol debuts a wrapped XRP, “FXRP,” which users can stake to mint new tokens called stXRP. This push would unlock billions of dollars’ worth of liquidity for the Flare ecosystem while also attracting institutional interest.