The XRP could rise to $ 12.50 before President Trump leaves the office, Investment Bank Standard Chartered (Stan) said in a report Tuesday that initiated the cover of ripple-related token.
Standard charter predicts that XRP reaches $ 5.50 by the end of this year, $ 8 in 2026 the end of the year, $ 10.40 by the end of 2027 and $ 12.50 by the end of 2028. At the time of writing, XRP had risen over 7% of $ 1.93.
The bank noted that XRP rose Sixfold after Donald Trump’s election victory in November, reflecting the expectations that Securities and Exchange Commission (SEC) would hand over his appeal against Ripple, and because of the potential approval of XRP exchange traded funds (ETFs).
Such gains are sustainable, the bank said, partly because of management changes in SEC, but also because “XRP is uniquely placed in the heart of one of the fastest growing application cases for digital assets-placement of cross-border and border payments.”
“The XRPL is similar to the main use case for stableecoins like Tether: Blockchain-activated financial transactions traditionally carried out through traditional economic (tradfi) institutions,” wrote Geoffrey Kendrick, head of digital assets research into standard chartered bank.
StableCOin transactions are expected to rise ten times in the next four years, the report says.
Stableecoins are cryptocurrencies whose value is bound to another asset, such as the US dollar or gold. They play an important role in cryptocurrency markets and are also used to transfer money internationally.
Ripple also plans to push XRPL into the tokenization room, the bank noted. XRPL is XRP’s decentralized public blockchain and is used for payments.
These positive factors mean that XRP has to keep up with its larger peer bitcoin (BTC), in terms of award assessment, the bank said.
XRPL suffers from two shortcomings, the small number of developers and its limited value uptake, but these are more than offset by positive tail winds, the report added.
Read more: First XRP ETF in the US to go live on Tuesday with the launch of the Teucrium’s geared fund
