Flare CEO Hugo Philion stated that Ripple CTO David Schwartz is underestimating the true potential of lending on the XRP Ledger. Philion highlighted that while XRPL's native XLS-66 lending protocol is stalled, Flare has deployed its own infrastructure, facilitating $7.2 million in RLUSD stablecoin loans using 10.8 million wrapped XRP as collateral. He believes this demonstrates the significant demand and potential for XRP lending, with Flare aiming to channel new financial flows into its ecosystem without waiting for major ledger upgrades from Ripple.