XRP can hit $ 5.5 by the end of the year and $ 12.5 by 2028-Dulo, says Standard Chartered
The XRP could have increased to $ 12.50 before President Trump left, the Investment Bank Standard Chartered (STAN) said in a report on Tuesday starting a Ripple -related token range.
The Standard Charter foretold the XRP will reach $ 5.50 by the end of this year, $ 8 to 2026 years-ending, $ 10.40 by the end of 2027, and $ 12.50 by end-2028. At the time of writing, the XRP traded nearly 9% above $ 1.94.
The bank noted that the XRP rose six times following Donald Trump’s Election success In November, reflecting expectations of the Securities and Exchange Commission (SEC) Appealing against rippleand due to the potential approval of funds exchanged by the XRP (ETF) exchange.
Such gains are sustainable, the bank said, in part due to changes in the SEC leadership, but also because the “XRP is uniquely positioned amid one of the fastest growing cases of use for digital properties-facilitating cross-border and cross-currency payments.”
“XRPL is similar to the main case of use for stablecoins such as Tether: Financially Enabled Blockchain transactions traditionally produced by traditional financial institutions (tradfi),” wrote Geoffrey Kendrick, head of the digital assets research at the Standard Chartered Bank.
Stablecoin transactions are expected to increase by ten times over the next four years, the report said.
Stablecoins are cryptocurrencies whose value is tied to another owner, such as the US dollar or gold. They play a major role in cryptocurrency markets and are also used to transfer money worldwide.
Ripple also plans to push XRPL into the tokenization space, the bank said. XRPL The decentralized public blockchain of XRP, and is used for payments.
These positive factors mean that XRP should keep the larger peer bitcoin (BTC), in terms of price appreciation, the bank said.
The XRPL suffers from two flaws, the small number of developers and the limited amount of its extraction, but they are more than just the offspring of the positive tails, the report added.
Read more: First XRP ETF in the US to survive on Tuesday with the launch of Teucrium’s Leveraged Fund Fund
