- XRP is projected to surpass Ethereum in market capitalization by 2028, driven by regulatory clarity, institutional adoption, and Ripple’s expanding role in tokenization.
- Standard Chartered forecasts a multi-year price rally for XRP, with a potential peak of $12.50 in 2028 and the launch of an XRP spot ETF expected by 2025.
Standard Chartered Research has made waves in the crypto world with a striking forecast: XRP could surpass Ethereum in market capitalization by the end of 2028. Spearheaded by Geoffrey Kendrick, the bank’s global head of digital assets research, this prediction is part of a broader bullish outlook for XRP, Bitcoin, and Ethereum over the next five years.
A Bold Forecast for XRP’s Rise
According to Kendrick, XRP is set to enter a multi-year rally driven by several favorable factors. By 2025, XRP is expected to hit $5.50, followed by $8.00 in 2026, $10.40 in 2027, and peaking at $12.50 in 2028 before a slight dip to $12.25 in 2029. These gains position XRP for a significant climb in the ranks of digital assets, especially when compared to Ethereum, which is projected to grow more modestly during the same period.
What’s even more eye-catching is the potential flip in market cap between XRP and Ethereum. While Ethereum is projected to reach $7,500 by 2028, Kendrick argues that XRP’s increasing relevance in payment systems and tokenization could give it the edge.
Why XRP Could Take the Lead
Standard Chartered’s outlook hinges on a few key catalysts. Kendrick points to the favorable resolution of Ripple’s legal battle with the SEC, which has removed a major cloud of uncertainty. Additionally, regulatory support under a potential Trump-led administration and the expected approval of an XRP spot ETF by Q3 2025—with anticipated inflows of up to $8 billion—are seen as game-changers.
Another powerful growth driver is Ripple’s deepening role in tokenization. The company is working on tokenized U.S. Treasury bill funds and its own USD-backed stablecoin, RLUSD, reinforcing XRP’s utility in real-world finance.
Ethereum’s Lagging Momentum
While XRP gains traction, Kendrick is notably less bullish on Ethereum. He recently slashed his Ether price target for 2025 by 60% to $4,000, citing limited upside and referring to Ether as an “identified loser” in contrast to “identified winners” like Bitcoin and Avalanche (AVAX).
Still, Kendrick acknowledges XRP’s challenges, including its relatively small developer ecosystem and a low-fee model that may limit long-term network value capture.
Yet, even with these caveats, the message is clear: XRP is no longer just a payments token—it’s a serious contender for the top ranks of crypto.
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