Hugo Philion, CEO of Flare Network, has stated that Ripple's recovery will be slow due to its ongoing legal issues. Ripple has been hindered by regulatory uncertainty since late 2020, causing it to fall behind by approximately 2.5 years. Stablecoin providers have made significant progress in the market traditionally led by Ripple, but Philion believes Ripple could still succeed in areas poorly served by traditional finance. However, progress may be slow due to skepticism within traditional finance regarding cryptocurrencies, and developing new use cases for XRP will take time to yield results.
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Flare Network CEO predicts slow recovery for Ripple after legal woes
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