Flare founder Hugo Philion is questioning why XRP price fell after a major announcement that the XRP Ledger (XRPL) is being integrated into Brazil’s financial system.
Ripple executive Luke Judges said the first issuance will bring around $15 billion in represented market value to the XRPL before the end of 2026. Meanwhile, Philion believes XRP’s price movement does not reflect the significance of the development or the potential impact of greater institutional adoption of the blockchain.
Flare Founder Questions XRP Price Drop
According to CoinMarketCap data, XRP’s price dipped to $1.49 from $1.54 over the past 24 hours, a 3.24% loss. Meanwhile, at press time, the coin was at $1.5, up only 0.69% over the past day.
This discouraging price performance follows the announcement involving the XRP Ledger and Brazil’s financial system. On X, Flare founder Hugo Philion questioned why XRP’s price fell amid such a substantial development. He expressed surprise at the weak market reaction, saying
“I can’t help but point out the lunacy.”
Philion also compared the situation to Flare (FLR), noting that both projects often see weak token performance amid major announcements. His main point is that XRP’s price does not reflect the significance of the Brazilian partnership, which brings the XRPL deeper into institutional financial infrastructure.
“It Doesn’t make sense.”
XRP isn’t “my” coin but I can’t help but point out the lunacy (because FLR suffers from the same lacklustre response sometimes) that XRP is down on the day after the revealing of something that is so potentially transformative. It doesn’t make sense. https://t.co/VhguqepdCw
— Hugo Philion (@HugoPhilion) September 30, 2026
$15B Tokenization Target on XRPL
Ripple executive Luke Judges said the first phase of the Brazilian project hopes to bring about $15 billion worth of assets onto XRPL. However, this does not mean $15 billion in new money will immediately enter the network. The figure represents financial assets being digitally represented on the blockchain.
Judges said work on the project has already started, with the first issuance targeted for before the end of 2026. He also noted that the timeline depends on technical requirements and other potential delays.
The XRPL currently holds about $6.3 billion in assets. As the Brazilian project advances into later phases, it will manage and distribute additional assets using blockchain technology. Over time, the initiative will increase financial activity on the XRPL and expand its role in the financial sector.
Brazil’s $4.25 Trillion Financial Market Creates a New Opportunity
The XRP Ledger (XRPL) is being integrated into Brazil’s financial market infrastructure through CSD BR, a company that manages and settles securities. CSD BR oversees more than BRL 22 trillion ($4.25 trillion) in registered assets. Brazil is also the world’s 10th-largest economy.
The first phase of the project will involve BTG Pactual fund shares. Future phases are set to expand into additional areas of Brazil’s financial markets, including parts of the fixed-income market.
According to Ripple executive Luke Judges, this marks the first time the XRPL has been added to financial infrastructure of this scale. CSD BR selected the XRPL because it supports financial applications and integrates with existing regulated systems.
Why This Matters for XRP
The project brings greater institutional use to the XRPL beyond the traditional trading and speculation surrounding XRP. As the initiative moves forward, the XRPL will represent and manage financial assets within a regulated market. Expanding institutional use of the XRPL may ultimately translate into meaningful demand for XRP.