Flare CEO Claims New Infrastructure Could Unlock Passive XRP Lending
Flare's infrastructure has already facilitated $7.2M in Wrapped XRP-backed loans, challenging Ripple's approach.
Flare's infrastructure has already facilitated $7.2M in Wrapped XRP-backed loans, challenging Ripple's approach. XRP (XRP) is trading at $1.42. This is an original TLT brief synthesising 2 outlets (Crypto Economy, U.Today), plus live market data, as of Wed, 07 Oct 2026 21:17:28 UTC.
This development highlights a growing competition in the XRP ecosystem, with Flare's infrastructure potentially offering a more efficient path to unlocking passive lending opportunities for XRP holders. It underscores the importance of technical infrastructure in expanding cryptocurrency utility and market participation.
- Flare's infrastructure has processed $7.2M in Wrapped XRP loans.
- Flare's approach challenges Ripple's XLS-66 model, which remains in voting.
- The development could unlock new passive income opportunities for XRP holders.
- XRP price down 5.48% in 24 hours amid broader market decline.
Both Crypto Economy and U.Today report that Flare CEO Hugo Philion has challenged Ripple CTO David Schwartz's view on XRP lending, claiming Flare's infrastructure offers a more advanced solution. They agree that Flare has already facilitated $7.2 million in loans backed by 10.8 million Wrapped XRP. However, U.Today emphasizes the 'proxy infrastructure' aspect, while Crypto Economy focuses on the comparison with Ripple's XLS-66 model, which remains in the validator voting phase. No outlet contradicts these core facts.
Flare CEO Hugo Philion has claimed that the company's new infrastructure could unlock passive lending opportunities for 
XRP holders, challenging Ripple's approach to the same issue. Philion argued that Flare's Protocol Managed Wallets and Flare Confidential Compute have already demonstrated their potential by facilitating $7.2 million in loans backed by 10.8 million Wrapped XRP.
This development comes as Ripple's native model, XLS-66, remains in the validator voting phase, suggesting potential delays in its implementation. Flare's infrastructure, on the other hand, is already operational and has been used to process these substantial loan transactions.
The news has sparked a debate within the XRP community about the most effective way to leverage the cryptocurrency for passive income. While Ripple's model is still in the development and voting phase, Flare's system is already demonstrating tangible results.
In the broader market context, the total cryptocurrency market cap stands at $2.9 trillion, with 
Bitcoin down 2.52% in the last 24 hours. XRP, the cryptocurrency at the center of this debate, is trading at $1.42, representing a 5.48% drop in the same period. Flare (FLR) has also seen a decline, with its price at $0.00697252, down 3.39% in the last day.
The development underscores the competitive landscape within the XRP ecosystem and the importance of technical infrastructure in expanding cryptocurrency utility. It remains to be seen how Ripple will respond and whether Flare's early lead in this space will translate into long-term adoption.
Since this brief published about 2 hours ago, XRP (XRP) has moved from $1.42 to $1.42 — +0.00%.
The chart plots XRP's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Over the past 24 hours XRP moved -5.4% while Bitcoin moved -2.6%. XRP has historically moved about 1.48× Bitcoin, implying roughly -3.9% today — so this is roughly what its usual link to Bitcoin would predict.
Beta computed by TLT from ~120 days of daily returns; context only, not advice.
Over the past 12 months, XRP (XRP) closed within 2.5% of today's $1.42 on 71 separate days. Here is what the price did afterwards on those days — a historical base rate, not a forecast:
Computed by TLT from 12 months of daily closing prices. A base rate describes the past distribution of outcomes from similar price levels — it does not predict the future and ignores the specific news in this story. Crypto is volatile and past performance is not indicative of future results. Not financial advice.
At today's peer-to-peer rate, 1 XRP ≈ ₦1,939.81 (about $1.42), down 5.4% over 24 hours. The naira itself trades about 2.9% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 7, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Flare CEO Claims New Infrastructure Could Unlock Passive XRP — questions & answers
What is Flare's infrastructure facilitating?
Flare's infrastructure has facilitated $7.2 million in loans backed by 10.8 million Wrapped XRP.
How does Flare's approach compare to Ripple's?
Flare's system is already operational, while Ripple's XLS-66 model is still in the validator voting phase.
What is the current price of XRP?
XRP is trading at $1.42, down 5.48% in the last 24 hours.
How much is 1 XRP worth in naira today?
About ₦1,939.81 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $1.42. The naira price moves with both XRP's US-dollar price and the USDT/NGN rate; use our XRP in naira page for any amount.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Crypto Economy, U.Today, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.