XRP Set To Skyrocket 500% — Could It Dethrone Ethereum By 2028?

XRP is making a strong comeback among the major contenders at the top of the crypto market. Standard Chartered anticipates a surge of 500% by 2028, enough to surpass Ethereum in market capitalization. Such a scenario would place Ripple at the heart of the new digital balances, just behind Bitcoin. This rise is supported by the momentum of tokenization, the increasing commitment of institutions, and a regulatory environment on the path to improvement. The hierarchy of cryptos could be about to shift.

Standard Chartered bets on a historic turnaround

In a report published on Tuesday, April 8, 2025, Geoffrey Kendrick, global head of crypto research at Standard Chartered, predicts that the price of XRP will reach $12.50 by the end of 2028, representing a 500% increase.

This bullish momentum would be driven by a set of catalysts identified by the British bank. Among the highlighted factors, there are notably:

• The anticipated approval of a spot XRP ETF by the third quarter of this year, which could generate “between $4 and $8 billion in capital inflows during the first year“;
• The closure of the SEC case against Ripple, with the U.S. regulator dropping its appeal, seen as a favorable regulatory stabilization for XRP;
• The strategic role of XRP in cross-border payments, supported by its XRPL blockchain architecture;
• The projection of surpassing Ethereum’s market capitalization, positioning XRP as “the second non-stablecoin crypto in terms of market capitalization” by 2028.

The analyst also emphasizes that this vision relies on a macroeconomic environment in which Bitcoin would reach $500,000 by the same timeline. He specifies:

Despite a relatively small developer base and a low-fee model, the positive drivers mentioned compensate for these weaknesses.

For Kendrick, Donald Trump’s reelection could even have indirectly favored the SEC’s withdrawal of the appeal. A political factor that adds to a rare alignment of the planets for XRP.

Ripple’s strategy and the rise of traditional markets

Beyond price forecasts, Standard Chartered’s analysis highlights structural dynamics. Ripple’s blockchain infrastructure, the XRP Ledger (XRPL), is described as “a payment chain likely to become a tokenization chain“, according to Kendrick.

This positioning resembles the architecture of Stellar, currently ranked second in this expanding sector.

Several recent developments reinforce this direction. A 2x leveraged ETF linked to XRP futures has been launched on the NYSE Arca, while Coinbase has filed a request with the CFTC (Commodity Futures Trading Commission) for nano-XRP futures.

Ripple has also acquired Hidden Road for $1.25 billion, which has strengthened its integration into traditional finance. Brad Garlinghouse, CEO of Ripple, considers this operation as a decisive step. Moreover, he emphasizes that XRP is “gaining traction in traditional markets“.

These developments, combined with projected growth independent of a deflationary context, with an implicit inflation of 6% for XRP against 0.8% for Bitcoin, suggest lasting robustness. If Standard Chartered’s bet materializes, XRP would no longer be just a fast transfer token, but a pillar of tokenized financial infrastructures, with increased systemic weight. However, this scenario depends on large-scale adoption and flawless execution of Ripple’s strategy in a constantly evolving sector.