Important update on Flare distribution to XRP holders

Although Flare’s much-anticipated airdrop to XRP (XRP/USD) holders has been delayed several times, Flare Networks CEO and cofounder Hugo Philion shared an important update for everyone who’s waiting, CoinGape wrote.

According to Philion, Flare has reached out to the biggest exchanges to get all the details on what they need to distribute the token so it can fulfill all the prerequisites. Philion tweeted recently:

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For all those asking where their $FLR is. We are upgrading Songbird, before the end of March 2022, with the final 2 protocols required before Flare launch. This will then allow us to proceed to Flare launch. A full roadmap to Flare launch will be released in the coming weeks.

XRP gains 15% on Ripple lawsuit updates

After a few interesting updates regarding the SEC vs Ripple case emerged, the token’s 24-hour trading volume skyrocketed, gaining more than 100%. Brad Garlinghouse vowed Ripple would win the lawsuit.

District Judge Analisa Torres unsealed three important documents: two email strings (one from Chris Larsen and the other from Garlinghouse) and the notice of Brad Garlinghouse’s deposition in the SEC formal investigation. Further revelations are expected to keep pushing the coin up as the lawsuit moves forward.

About the Flare airdrop

The Flare Network’s native token, Spark, is designed to bring utility to the network by providing data and collateralizing assets and through governance and spam prevention. 45 billion of 100 billion Spark tokens will be distributed to XRP holders.

Series of postponements

The airdrop was announced back in December 2020, but the distribution has been postponed several times. According to Flare, the airdrop was linked to the holder’s XRP balance on 12^th December 2020, 00:00 UTC. Holders had until 11^th June 2021, 23:59 UTC to make their claim.

At the time of writing, the live XRP price was $0.77 with a 24-hour trading volume of just over $3 billion. XRP is up 15.05% in the last 24 hours.

The current CoinMarketCap ranking is #8 with a live market cap of $36.93 billion. It has a circulating supply of 47.83 billion coins and a max. supply of 100 billion XRP coins.