Monerex CMO Says He Bought XRP When It Was Called a ’Scam Coin’ and Now Backs FLR
Monerex Chief Marketing Officer King Karan said on X that he bought XRP early when the token was widely dismissed as a “scam coin.” He likened that call to earlier buys in silver and said he now holds FLR — the native token of the Flare Network — despite some labeling it an “airdrop coin.” Karan stressed independent, fundamentals-driven research over herd sentiment, citing XRP’s utility in cross-border settlement and FLR’s potential in smart-contract interoperability and DeFi. The piece frames his approach as patience and conviction: buy when assets are undervalued by public opinion and focus on technology, adoption, and regulatory clarity. The article includes a standard disclaimer that it is for information only and not financial advice.
Bullish
The article highlights a respected marketing executive’s endorsement of XRP as a historical success and his current conviction in FLR. Such public confidence from industry figures tends to be bullish for the tokens mentioned because it can increase retail interest and social momentum. Key bullish factors: (1) narrative of early entry and conviction may drive FOMO and accumulation among retail traders; (2) emphasis on fundamentals (utility, interoperability, DeFi use cases) provides a rational basis that appeals to longer-term investors; (3) continued positive public mentions of XRP reinforce its market legitimacy, which can spill over to related projects like FLR. Short-term impact: likely modest price uplift and volume spikes for FLR and potentially XRP on social reposting, but not guaranteed — hype-driven moves may be short-lived without fresh on-chain adoption or news. Long-term impact: if FLR demonstrates tangible DeFi adoption and Flare delivers interoperability benefits, the thesis could attract sustained capital and be genuinely bullish. Risks that temper this view include persistent regulatory uncertainty, broader market downtrends, and the common pattern where influencer endorsements create transient rallies that fade absent fundamentals. Historical parallels: social endorsements and buy-the-dip narratives contributed to rallies for XRP after positive legal/regulatory signals, and airdrop/utility narratives have driven short-term pumps for tokens like UNI and Airdrop recipients, later stabilizing around actual product adoption.