The XRP community once touted Flare as a life-changing opportunity, but despite a 96% drop from its price in January, investors remain highly optimistic. The Flare token (FLR) has plummeted 96% from the price of $0.4711 it opened January with. Recall that the token’s initial airdrop distribution occurred in January 2023, compounding excitement among XRP […] The post Flare Has Dipped 96% Since Airdrop to XRP Holders, But Investor Optimism Remains High first appeared on The Crypto Basic.

Flare Has Dipped 96% Since Airdrop to XRP Holders, But Investor Optimism Remains High

The XRP community once touted Flare as a life-changing opportunity, but despite a 96% drop from its price in January, investors remain highly optimistic.

The Flare token (FLR) has plummeted 96% from the price of $0.4711 it opened January with. Recall that the token’s initial airdrop distribution occurred in January 2023, compounding excitement among XRP holders. However, despite the 96% decline, investors remain optimistic about its prospects.

CryptoBull, a prominent  XRP community figure, recently drew attention to the abysmal performance of the token since the start of the year.

Highlighting a discouraging red candlestick on a 12-month chart, CryptoBull called attention to the fact that the FLR airdrop was positioned as an opportunity for the XRP community to get rich. In hindsight, the influencer scoffed at the narrative which had dominated the XRP community then.

Notably, the first phase of the  FLR airdrop  occurred on January 9, although some exchanges implemented it on later dates. The asset opened January with a value of $0.4711. However, following immense selling pressure triggered by recipients of the airdrop, FLR closed January with a 90% drop.

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