- Standard Chartered predicts XRP could reach $12.50 by 2028, marking a 500% increase.
- XRP gains adoption for faster, cheaper cross-border remittances by financial institutions.
- Legal victories and a new ETF boost investor confidence, signaling a bright future for XRP.
Ripple’s XRP is in the spotlight again after recent legal victories and advancements in the crypto space. Standard Chartered, a leading British multinational bank, has raised eyebrows with its bold prediction for XRP’s future. The bank forecasts the digital asset could reach $12.50 by the end of 2028, marking a historic run in cryptocurrency.
Geoffrey Kendrick, the Global Head of Digital Assets Research at Standard Chartered, outlined an ambitious price projection. The forecast suggests XRP could hit $5.50 by 2024, then move to $8 in 2026, and reach $10.40 by 2027. The final target of $12.50 in 2028 represents a remarkable 500% increase from current levels.
Kendrick also highlighted that XRP’s growth could overtake Ethereum in market capitalization by late 2028, making it the second-largest cryptocurrency. Standard Chartered’s price forecast comes as the market is still recovering from a series of legal and market challenges for Ripple’s digital asset.
XRP ETF Launch
The outlook comes at the back of the first-ever XRP exchange-traded fund (ETF) recently launched in the United States. However, the ETF is unique as it does not give exposure to XRP as a cryptocurrency but works with swaps that replicate the asset’s performance. This feature sets this structure apart from typical crypto ETFs in today’s market.
Despite the ETF launch, XRP faced a small decline in value. The cryptocurrency fell by 4% over the last 24 hours. At press time, XRP is ranked fourth in market capitalization but has not seen a substantial market response to the ETF news. Its high volatility continues to capture the attention of traders and investors.
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XRP’s Real-World Use
Standard Chartered maintains a positive outlook toward XRP’s future amid the challenges and obstacles encountered along the way. Notably, the bank is planning to use XRP to solve financial problems in the real world. Today, financial institutions utilize XRP for cross-border remittances, as it is efficient and of low cost.
Further, the lawsuit against the SEC and Ripple has garnered attention. The legal battle with the SEC has ended, as the regulator dismissed the appeal case against Ripple Labs. This in turn, removed a significant legal uncertainty of XRP and brought much-needed relief to its investors. Looking to the future, XRP holds a promising position with the closure of the lawsuit and filings of XRP ETFs, and as predicted, it could witness unbelievable growth in the upcoming years.
