Flare CEO Hugo Philion expressed confusion over the lackluster reaction of XRP's price to one of the most significant announcements regarding institutional adoption of the XRP Ledger in history. Philion described the drop in XRP's price after the important announcement about integration with Brazil's financial infrastructure as 'absurd'.
'XRP is not my coin, but I cannot help but emphasize this absurdity (because FLR sometimes suffers from the same lackluster reaction): XRP drops on the same day after revealing something so potentially transformative. It makes no sense,' noted Philion. Recently, Ripple announced a new partnership with Brazil's financial infrastructure provider CSD BR. This company has begun integrating the XRP Ledger into its infrastructure. The project will start with shares of the investment fund BTG Pactual, one of the largest investment banks in Latin America. However, Ripple executives estimate that the potential scale of the project could be broader.
Ripple's Luke Judges estimated that the first placement under this program could reach a staggering $15 billion in 'presented' market capitalization on the XRP Ledger. He clarified that this does not mean that these $15 billion will be invested in XRP. 'Expect the first placement under this program to yield around $15 billion in 'presented' market capitalization on XRPL, as this is a digital model to start with,' he added. Judges expressed hope that such a placement would occur by the end of 2026, although the timeline may change due to potential technical delays and other complications. He also noted that XRPL is the only blockchain used in CSD BR's technology stack: 'As of today, XRPL is the only blockchain in the stack.'
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