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- Ripple’s XRP could reach $12.50 by 2028, with a 500% growth from its current value, predicts Standard Chartered.
- XRP’s market cap may surpass Ethereum’s by 2028, positioning it as the second-largest cryptocurrency.
- The launch of an XRP ETF tracks performance via swaps, distinguishing it from traditional crypto ETFs.
Ripple’s XRP has gained attention due to its legal wins and improvements in the crypto space. Recently, the British multinational bank, Standard Chartered, did not hesitate to forecast XRP’s future. The bank believes that XRP can trade and surpass $12.50 per coin by the end of 2028, consequently achieving a 500% growth in value.
Geoffrey Kendrick, the Global Head of Digital Assets Research at Standard Chartered, has unveiled an XRP price prediction. Kendrick has predicted that XRP could reach the value of $5.50 by the year 2024, and the price could rise to $8 by 2026 and further rise to $10.40 in the year 2027. The last ride of this bank is the target of $12.50 of the digital asset by the year 2028, making it among the most promising cryptocurrencies in the market today.
Ripple Launches XRP ETF
Kendrick also noted that the market cap of XRP can overtake Ethereum by 2028 and solidify the position of XRP as the second-largest cryptocurrency. This comes as the general market advances after several years of litigation and regulatory issues that have befallen Ripple and its asset, XRP.
Besides the developments regarding XRP, the first-ever XRP-friendly exchange-traded fund (ETF) has recently emerged in the United States. This particular ETF has a distinctive feature of not investing in XRP, which is the main asset of this cryptocurrency. However, instead of investing directly in the cryptocurrency, the ETF tracks it through swaps which gives it a distinction from the normal ETFs in the current markets.
However, after the launch of the ETF, there were some effects noted in XRP value as it declined slightly by 4% in a single day. Today, XRP ranks fourth among all digital currencies in terms of market capitalization. There are no notable changes that have been observe on the market, though many traders like the high volatility of XRP in an ETF.
High Expectations for XRP
Standard Chartered still has high expectations for XRP, as more and more real-world applications are found for the digital asset. For this reason, XRP facilitates international money transfer, therefore enhancing the uptake of the asset by the bank. Banks and other financial organizations have already started utilizing XRP for enhanced and cheaper cross-border transactions.
Ripple’s legal wins have also helped to improve the confidence of investors in the company as well. The dismissal of the SEC’s appeal case against Ripple Labs has removed a significant regulatory barrier. This decision has brought more understanding to the current status of XRP, hence it becomes even more valuable to the investors.
From the outlook, XRP’s future looks rather promising with new favorable legal cases, emerging financial services, and expanding use cases across markets. However, based on Standard Chartered’s projections, the outlook for XRP seems very bright in the coming years.
