XRP traded near $1.49 on Thursday, even as the XRP Ledger marked a significant milestone within Brazil’s financial infrastructure. The development reflects an ongoing disconnect between institutional adoption headlines and actual price performance for the token.
Brazil’s largest asset registrar moves to XRPL
CSD BR, Brazil’s central securities depository and registrar, manages over 22 trillion reais (approximately $4 trillion) in registered assets. This week, CSD BR began recording ownership of selected BTG Pactual investment funds on the XRP Ledger.
However, the $4 trillion in assets itself remains within CSD BR’s traditional systems. Only specific fund records, rather than the entirety of the depository’s assets, are being mirrored to the blockchain. CSD BR continues to maintain its internal database as the legal record for asset registration, custody, and settlement.
Participating financial institutions are able to cross-check the blockchain record with CSD BR’s systems, which may improve operational efficiency and reduce reconciliation requirements while maintaining compliance with regulatory standards.
Veteran trader Peter Brandt commented this week that significant adoption does not always equate to immediate increases in value for a token.
Just because a project becomes transactional does not automatically mean its token will become more valuable, he cautioned.
ETF inflows continue, but price lags
Institutional demand for regulated XRP exposure has accelerated in recent days. US spot XRP exchange-traded funds recorded $3.96 million in net inflows on Monday, following $22.65 million on Friday, according to Cointelegraph, highlighting sustained interest from investors.
Analyst James Seyffart of Bloomberg Intelligence has previously described these ETF flows as “surprisingly resilient,” given the token’s inability to sustain rallies despite growing investment product demand.
The strong inflows to XRP ETFs point to ongoing institutional interest, even as the price struggles to reflect this demand.
XRP climbed to an intraday peak of $1.6556 on September 23, but subsequently pulled back to around $1.49, a drop of nearly 10% from recent highs. The token continues to trade in a tight range, as investors look for signs that new adoption will translate into upward price movement.
Macro headwinds pressure price action
The broader macroeconomic environment has weighed on speculative digital assets like XRP. US Treasury yields have climbed above 5.30%, reaching their highest levels in 24 years. This has made government bonds more attractive, drawing capital away from risk assets.
Vetle Lunde, an analyst at K33 Research, stated that elevated yields have prompted investors to move away from risk, even as recent CPI data has reduced the likelihood of an immediate Federal Reserve rate increase.
On a structural level, adoption of the XRP Ledger by major institutions does not necessarily trigger direct purchases of XRP tokens. Cyclically, any incremental demand is offset by broader market forces rewarding income-generating assets over speculative positions.
XRP has repeatedly failed to hold above resistance in the $1.55–$1.60 area, while investors remain active in defending support between $1.45 and $1.50.
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