XRP Price Drops as Brazil Deal is Labeled 'Lunacy' by Flare Co-Founder

XRP's latest news saw it drop in value, despite being described as potentially transformative by experts. Flare co-founder Hugo Philion called this reaction 'lunacy', stating that XRP is not his coin but couldn't understand why it fell after the announcement.

CSD BR, one of Brazil's core securities depositories, will be bringing assets onto the XRP Ledger as part of a new deal. This marks the first time the XRP Ledger is being integrated into financial market infrastructure of this size, with CSD BR holding over BRL 22 trillion in registered assets.

The program starts with BTG Pactual fund shares and plans to bring large parts of Brazil's fixed-income market onto the XRPL. According to Ripple's Luke Judges, the first issuance could put about $15 billion of 'represented' market value on the ledger under a digital twin model.