Standard Chartered expects XRP to reach $12.50 by 2028, anticipating the approval of the XRP ETF in Q3 2025.

Standard Chartered has begun reporting on digital assets created by Ripple, forecasting a multi-year bull run driven by payment use cases and tokenization.

The price of XRP could increase by more than 500% from the current level around $2 to $12.50 by 2028, Geoffrey Kendrick, global head of digital asset research at Standard Chartered, wrote in a report published on Tuesday.

"By the end of 2028, we see the market capitalization of XRP surpassing Ethereum," Kendrick said in an email while sharing the report. "This will make XRP the second largest digital asset ( not a stablecoin) at that time."

Kendrick added that the "tariff chaos" will soon come to an end and Bitcoin's solid performance during this time "tells us that other assets will soon follow."

Reasons for the projected growth of XRP

Kendrick believes that the projected growth of XRP is a combination of legal developments, the adoption by various investment institutions, and expanded use cases.

He pointed out the recent announcement by Ripple CEO Brad Garlinghouse that the (SEC) has dropped its appeal in the XRP lawsuit, a move that Kendrick said was anticipated after Donald Trump, a cryptocurrency supporter, won the presidential election.

Kendrick also predicts that the SEC will approve spot XRP ETF funds in Q3 2025, with potential inflows of 4 – 8 billion USD in the first year.

Kendrick stated that the core function of XRP, which enables cross-border and cross-currency payments, reflects the use of this digital asset that will grow the fastest, similar to stablecoins. He added that the trading volume of stablecoins has increased by 50% annually and is expected to grow tenfold in the next 4 years.

Ripple is also expanding into the field of tokenization, with initiatives such as tokenized U.S. Treasury bond funds and the RLUSD stablecoin pegged to the U.S. dollar.

Kendrick said: "The blockchain of XRP, XRP Ledger (XRPL), is a payment chain and can become a tokenization chain."

He compares XRPL to Stellar, stating that both blockchains have similar architectures. Stellar is currently the second-largest company in the tokenization market, and XRPL could achieve similar success.

Therefore, Kendrick predicts that the price of XRP will reach $5.50 by the end of this year, gradually increasing to $8.00 in 2026, peaking at $12.50 in 2028, and maintaining that level until the end of 2029.

These forecasts assume that Bitcoin will reach $500,000 within the same timeframe, implying that XRP will maintain relative performance to BTC even when inflation is higher at (6% for XRP compared to 0.8% for BTC).

Source: Standard Chartered ResearchHowever, there are still many challenges. The developer ecosystem of XRP is relatively small compared to its industry peers, and the company's low fee model limits its ability to capture value. However, Kendrick stated that these obstacles could be offset by the positive drivers mentioned above.

Optimistic about BTC and AVAX – but not ETH

Kendrick is one of the optimistic voices in cryptocurrency, having previously predicted a price target of $500,000 for Bitcoin by the end of 2028.

Last week, he also began reporting on the Layer-1 blockchain Avalanche, predicting that its native token AVAX could grow more than 10 times to $250 by the end of 2029. Meanwhile, Kendrick is less optimistic about Ethereum and cut his 2025 Ether price target by 60% last month, to $4,000.

In today's email, Kendrick described Bitcoin and AVAX as "winners" and Ether as "losers."

You can see the price of XRP here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.

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Viet Cuong

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