XRP Price Drop Called 'Lunacy' by Flare CEO

Flare co-founder and CEO Hugo Philion has called XRP’s muted reaction to a major XRP Ledger infrastructure breakthrough in Brazil "lunacy."

Alex Dovbnya · 1 Oct 2026 · 4 min read

Wire content from U.Today

XRP Price Drop Called ‘Lunacy’ by Flare CEO

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By
Alex Dovbnya

Thu, 1/10/2026 – 6:03

Flare co-founder and CEO Hugo Philion has called XRP’s muted reaction to a major XRP Ledger infrastructure breakthrough in Brazil “lunacy.”

XRP Price Drop Called 'Lunacy' by Flare CEO

Cover image via U.Today

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.

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