Flare CEO Slams 'Lunacy' Over XRP's Lackluster Price Response to Brazil Deal
Flare co-founder and CEO Hugo Philion has expressed confusion over XRP's muted price response to its integration into Brazilian financial-market infrastructure provider CSD BR.
The company recently announced a partnership with Ripple, integrating the XRP Ledger into its technology stack. The project starts with investment fund shares from BTG Pactual, one of Latin America's largest investment banks.
According to Luke Judges, a Ripple executive, the program could potentially reach $15 billion worth of assets on the XRP Ledger by 2026. However, this does not mean that $15 billion will be invested in XRP; rather, it is represented market capitalization on the XRP Ledger.
Philion has called the price drop 'lunacy', stating that XRP's response to what could be a transformative event doesn't make sense. The token remains stuck around $1.50, with its seven-day performance close to flat.