Standard Chartered has initiated formal analysis on XRP, projecting a significant price rally driven by its emerging dominance in global payments and asset tokenization. In a recent report, Geoffrey Kendrick, the bank\u2019s global head of digital assets research, forecasted that XRP could soar by approximately 500%, reaching a price target of $12.50 by the end of 2028. He further predicted that XRP\u2019s market capitalization would surpass Ethereum\u2019s within that same timeframe.<\/p>\n
\u201cWe expect XRP to overtake Ethereum\u2019s market cap by late 2028,\u201d Kendrick stated. \u201cThis would position XRP as the second-largest non-stablecoin crypto asset globally.\u201d<\/p>\n
The report also emphasized the regulatory landscape and its influence on XRP\u2019s potential. Kendrick believes the U.S. Securities and Exchange Commission (SEC) is likely to greenlight an XRP spot ETF by Q3 2025, potentially drawing between $4 billion and $8 billion in capital during its first year on the market.<\/p>\n
He added, \u201cThe regulatory \u2018tariff mess\u2019 is nearing resolution,\u201d noting that Bitcoin\u2019s resilience amid market turbulence signals more upward momentum for the broader crypto sector. Kendrick attributes XRP\u2019s expected growth to a blend of favorable regulatory shifts, rising institutional involvement, and a growing number of practical applications.<\/p>\n
He also referenced a comment from Ripple CEO Brad Garlinghouse about the SEC\u2019s decision to abandon its appeal in the XRP lawsuit, connecting the development to Donald Trump\u2019s election win\u2014suggesting the political shift could further support XRP\u2019s ascent.<\/p>\n
Describing XRP\u2019s utility, the global head of digital assets research stated:<\/p>\n
XRP\u2019s blockchain, the XRP Ledger [XRPL], is a payments chain and may become a tokenization chain.<\/p>\n
He drew a comparison to Stellar\u2019s infrastructure and added that Stellar is currently the second-largest player in the tokenization market.<\/p>\n
Standard Chartered’s Geoffrey Kendrick projects XRP will climb to $5.50 by the end of 2025, rise to $8.00 in 2026, and ultimately peak at $12.50 by 2028\u2014maintaining that level into 2029. These projections are underpinned by an expected Bitcoin price of $500,000 by 2028 and suggest that XRP will continue appreciating even amid elevated inflation rates, with Kendrick estimating a 6% return for XRP versus just 0.8% for Bitcoin. Although XRP\u2019s ecosystem faces challenges such as a smaller developer community and ultra-low transaction fees, Kendrick believes the previously cited growth catalysts will outweigh these limitations.<\/p>\n
XRP is also making strategic inroads into the U.S. institutional finance space. This week, a 2x leveraged ETF based on XRP futures debuted on NYSE Arca, granting investors enhanced exposure without direct spot ownership. In parallel, Coinbase submitted a filing to the CFTC to offer nano XRP futures, shortly after Bitnomial Exchange launched physically settled XRP futures contracts.<\/p>\n
Ripple\u2019s recent $1.25 billion acquisition of Hidden Road signals a pivotal expansion into global prime brokerage. The move integrates the XRP Ledger with cross-asset settlement capabilities across traditional financial markets. Ripple CTO David Schwartz described the acquisition as a \u201cdefining moment,\u201d while CEO Brad Garlinghouse noted that XRP is increasingly gaining a foothold in institutional channels. Simultaneously, Ripple and the SEC have filed a joint motion to pause ongoing litigation as they finalize a historic $50 million settlement, potentially closing the chapter on one of crypto\u2019s longest-running legal battles.<\/p>\n