XRP has remained under pressure around $1.49–$1.51 even after Ripple and Brazil’s CSD BR announced a major XRP Ledger integration, prompting Flare co-founder and CEO Hugo Philion to call the token’s negative price reaction “lunacy.”
CSD BR, which oversees more than 22 trillion reais—roughly $4 trillion—in registered assets, has begun recording ownership of selected BTG Pactual investment funds on the XRP Ledger. Ripple executives say the project starts with fund shares from BTG Pactual, one of Latin America’s largest investment banks, and could expand. Ripple executive Luke Judges estimated the first issuance could deliver about $15 billion of “represented” market capitalization on XRPL, though he cautioned that this does not mean $15 billion will be invested directly in XRP.
Despite the infrastructure milestone, XRP is down roughly 7% over the past week and remains almost 10% below its September 23 intraday high of $1.6556. The token has repeatedly struggled to hold above the $1.55–$1.60 region, while buyers are defending the $1.45–$1.50 area.
Several factors explain the muted response. CSD BR’s existing database remains the official record for registration, custody and settlement; the $4 trillion asset base is not moving on-chain, and the initial rollout covers selected fund records. Veteran trader Peter Brandt told Cointelegraph: “Just because something is transactional, that doesn’t mean automatically that it must be more valuable.” Meanwhile, U.S. spot XRP ETFs added $3.96 million on Monday after $22.65 million in inflows the previous Friday, but macro headwinds are limiting the impact. K33 Research analyst Vetle Lunde noted that surging U.S. Treasury yields are “pushing investors away from risk,” with crypto constrained even as softer inflation reduced expectations for an immediate Federal Reserve increase.
