Ripple's XRP (CRYPTO: XRP) has had a memorable six months, surging nearly 350% since November. Furthermore, Standard Chartered believes it could rise even higher. Analyst Geoffrey Kendrick predicts that Ripple will reach $12.50 by the end of 2028 -- which is an increase of about 450% from the current price.
In the near future, Kendrick believes that XRP could reach $5.50 ( doubling the current price of about $2.19 ) before the end of this year. He cites three key catalysts for growth:
The ability to approve the XRP spot exchange trading fund (ETF)The development of the XRP Ledger and increased stablecoin transactionsRipple's settlement agreement with the Securities and Exchange Commission (SEC)
Read on to learn more about why many investors are optimistic about XRP - as well as to note caution.
This is why XRP may soar.
One of the biggest reasons to be optimistic about XRP is that it has been operational, with applications in financial transactions and remittances, especially internationally. Cryptocurrency investors can quickly adapt to the high level of uncertainty, as many projects lack practical utility. Even Bitcoin, the progenitor of cryptocurrencies, has some potential use cases, but it is still unclear how effective it can be.
That makes Ripple Labs and XRP a rare (tương đối) solid piece of land. Ripple already has partnerships with a number of banks and institutions, although not all use XRP. Ripple says there are more than 1,500 projects, including stablecoins, on the XRP Ledger, an enterprise-focused blockchain. As Kendrick points out, it could be the main driver for growth, especially as stablecoin trading volumes increase.
The United States is closer than ever to passing clear legislation that will provide a regulatory framework for the rapidly growing stablecoin industry. Citigroup's newly released Digital Dollars report predicts that the stablecoin market could grow from $230 billion to approximately $500 billion to $3.7 trillion by 2030.
Ripple not only provides an easy and low-cost way to transfer money, especially abroad, but also helps companies and financial institutions looking to integrate blockchain technology into their businesses. This can be done through tokenized assets, custody solutions, or payment support. For example, this month, the Dubai Land Department launched a tokenized real estate project on the XRP Ledger-based platform called Prypco Mint.
Ripple Labs is well positioned to take advantage of the broader development of blockchain applications. According to ResearchAndMarkets.com, the global blockchain market is expected to expand to over $300 billion by 2030. However, the profits for Ripple's private shareholders do not necessarily equate to profits for those holding XRP. The two sides are distinct, and the company can grow without necessarily increasing the value of the token.
The most wonderful thing would be for the SEC to approve a spot XRP ETF. Standard Chartered's note suggests that it could lead to an influx of funds ranging from $4 billion to $8 billion in the first year. However, although the current crypto-friendly SEC may approve the ETF, this has not happened yet. In fact, the SEC has only delayed further, stating that they need more time to review the proposed WisdomTree XRP Fund.
Don't trust the hype.
I think the Ripple project has potential, but I don't believe that the current market capitalization of XRP, which is nearly 130 billion dollars, is reasonable. This figure is not double the market capitalization of 70 billion dollars of PayPal, a major payment and financial transaction unit. Visa, an even larger payment processing unit, has a market capitalization of 688 billion dollars.
To gain a better understanding, the secondary private market platform Hiive values Ripple Labs at $15 billion. Even with the warning that it is very difficult to value companies before their initial public offering (IPO), it is still a significant difference. Especially since Ripple Labs owns more than 40% of the total XRP.
Indeed, Ripple has many projects that have been established and have serious growth potential. However, there is also a tendency for speculation to overshadow reality.
I would like to give you two examples:
The SEC and Ripple have announced that their legal battle has come to an end. However, the judge has rejected their joint settlement motion to reduce Ripple's fines and lift the organization's sales ban. Recently, we have seen a series of news headlines suggesting that Ripple might acquire Circle, the company behind the stablecoin USDC. This week, Circle denied this and announced an IPO.
A lot of good news has been priced in.
Standard Chartered's XRP project could see significant growth in just a few years, potentially surpassing Ethereum. Ripple and XRP are certainly a solid blockchain, with real-world use cases that have been tested and validated. However, considering that much of the good news has already been priced in, that seems optimistic.
If you want to invest in the payment industry, consider companies like PayPal, Visa, or Mastercard. And if you want to add a small amount of cryptocurrency to your investment portfolio for long-term holding, take a closer look at Bitcoin.
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1 Top Cryptocurrency to Buy Before It Rises 450%, According to Standard Chartered
Ripple's XRP (CRYPTO: XRP) has had a memorable six months, surging nearly 350% since November. Furthermore, Standard Chartered believes it could rise even higher. Analyst Geoffrey Kendrick predicts that Ripple will reach $12.50 by the end of 2028 -- which is an increase of about 450% from the current price. In the near future, Kendrick believes that XRP could reach $5.50 ( doubling the current price of about $2.19 ) before the end of this year. He cites three key catalysts for growth: The ability to approve the XRP spot exchange trading fund (ETF)The development of the XRP Ledger and increased stablecoin transactionsRipple's settlement agreement with the Securities and Exchange Commission (SEC) Read on to learn more about why many investors are optimistic about XRP - as well as to note caution. This is why XRP may soar. One of the biggest reasons to be optimistic about XRP is that it has been operational, with applications in financial transactions and remittances, especially internationally. Cryptocurrency investors can quickly adapt to the high level of uncertainty, as many projects lack practical utility. Even Bitcoin, the progenitor of cryptocurrencies, has some potential use cases, but it is still unclear how effective it can be. That makes Ripple Labs and XRP a rare (tương đối) solid piece of land. Ripple already has partnerships with a number of banks and institutions, although not all use XRP. Ripple says there are more than 1,500 projects, including stablecoins, on the XRP Ledger, an enterprise-focused blockchain. As Kendrick points out, it could be the main driver for growth, especially as stablecoin trading volumes increase. The United States is closer than ever to passing clear legislation that will provide a regulatory framework for the rapidly growing stablecoin industry. Citigroup's newly released Digital Dollars report predicts that the stablecoin market could grow from $230 billion to approximately $500 billion to $3.7 trillion by 2030. Ripple not only provides an easy and low-cost way to transfer money, especially abroad, but also helps companies and financial institutions looking to integrate blockchain technology into their businesses. This can be done through tokenized assets, custody solutions, or payment support. For example, this month, the Dubai Land Department launched a tokenized real estate project on the XRP Ledger-based platform called Prypco Mint. Ripple Labs is well positioned to take advantage of the broader development of blockchain applications. According to ResearchAndMarkets.com, the global blockchain market is expected to expand to over $300 billion by 2030. However, the profits for Ripple's private shareholders do not necessarily equate to profits for those holding XRP. The two sides are distinct, and the company can grow without necessarily increasing the value of the token. The most wonderful thing would be for the SEC to approve a spot XRP ETF. Standard Chartered's note suggests that it could lead to an influx of funds ranging from $4 billion to $8 billion in the first year. However, although the current crypto-friendly SEC may approve the ETF, this has not happened yet. In fact, the SEC has only delayed further, stating that they need more time to review the proposed WisdomTree XRP Fund. Don't trust the hype. I think the Ripple project has potential, but I don't believe that the current market capitalization of XRP, which is nearly 130 billion dollars, is reasonable. This figure is not double the market capitalization of 70 billion dollars of PayPal, a major payment and financial transaction unit. Visa, an even larger payment processing unit, has a market capitalization of 688 billion dollars. To gain a better understanding, the secondary private market platform Hiive values Ripple Labs at $15 billion. Even with the warning that it is very difficult to value companies before their initial public offering (IPO), it is still a significant difference. Especially since Ripple Labs owns more than 40% of the total XRP. Indeed, Ripple has many projects that have been established and have serious growth potential. However, there is also a tendency for speculation to overshadow reality. I would like to give you two examples: The SEC and Ripple have announced that their legal battle has come to an end. However, the judge has rejected their joint settlement motion to reduce Ripple's fines and lift the organization's sales ban. Recently, we have seen a series of news headlines suggesting that Ripple might acquire Circle, the company behind the stablecoin USDC. This week, Circle denied this and announced an IPO. A lot of good news has been priced in. Standard Chartered's XRP project could see significant growth in just a few years, potentially surpassing Ethereum. Ripple and XRP are certainly a solid blockchain, with real-world use cases that have been tested and validated. However, considering that much of the good news has already been priced in, that seems optimistic. If you want to invest in the payment industry, consider companies like PayPal, Visa, or Mastercard. And if you want to add a small amount of cryptocurrency to your investment portfolio for long-term holding, take a closer look at Bitcoin.