Flare co-founder and CEO Hugo Philion has been befuddled by XRP’s muted price response to one of the XRP Ledger’s most significant institutional adoption announcements.

Philion argues that XRP’s price drop that came after a major integration announcement involving Brazil’s regulated financial-market infrastructure is "lunacy."

"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," Philion wrote.

As reported by U.Today, Ripple recently secured a fresh partnership with Brazilian financial-market infrastructure provider CSD BR. The latter has started integrating the XRP Ledger into its infrastructure.

The project starts with investment fund shares from BTG Pactual, one of Latin America’s largest investment banks. However, its potential scope could extend beyond this, according to Ripple executives.

Ripple executive Luke Judges has estimated that the program's first issuance could reach a staggering $15 billion worth of assets on the XRP Ledger. This, however, does not mean that $15 billion will be invested in XRP. The aforementioned sum is "represented" market capitalization on the XRP Ledger.

"Expect the first issuance under this program to deliver around $15 billion of 'represented' market capitalization on XRPL as it’s a digital twin model for now,” he said.

Judges said he would like to see that issuance happen before the end of 2026. However, the timeline could change, given that technical delays and other complications remain possible.

According to the Ripple executive, XRPL is notably the sole blockchain used in the CSD BR technology stack.

"Today, XRPL is the only blockchain in the stack," he said.

XRP remains stuck around $1.50

XRP’s price performance has remained subdued. The cryptocurrency is currently trading at approximately $1.51, CoinGecko data shows.

The token has gone nowhere over the past week: its seven-day performance is close to flat despite the massive infrastructure development.