Ripple’s XRP is Back in the Spotlight as Major Financial Institutions Begin to Place Bold Bets on Its Future

 Ripple’s XRP is back in the spotlight as major financial institutions begin to place bold bets on its future. According to News.Az, citing Coinfomania, Standard Chartered Bank now forecasts that XRP could hit $5.50 per token by the end of 2025

Major financial institutions are making bold bets on Ripple’s XRP, with Standard Chartered projecting that the token could hit $5.50 by the end of 2025, signaling a 223% gain in eight months.

According to multiple reports, Standard Chartered’s Global Head of Digital Assets Research, Geoff Kendrick, has attributed the anticipated rise in XRP price to a combination of institutional demand, exchange-traded fund approvals, and Ripple’s strategy to tokenize assets.

According to News.Az, citing Coinfomania, presenting an opinion piece on Standard Chartered’s official website, Kendrick said that “greater legal clarity and fewer compliance hurdles” will allow institutions to participate more fully in crypto markets this year.

He added that “with cross-border payments another area of institutional focus, we prefer to Standard Chartered’s picks on cryptocurrencies for 2024.”

Kendrick also went on to project that XRP could overtake Ethereum in market cap by 2028.

With several crypto ETFs already approved in the U.S. and more likely in the coming months, institutional investors will have more avenues to gain direct exposure to cryptocurrencies.

Standard Chartered’s forecast for XRP’s price to reach $5.50 by the end of 2025 also comes amid growing interest from traditional banks and fintech players in tokenizing assets such as bonds, equities, and real estate. Ripple’s technology, which uses XRP for cross-border payments and other services, could benefit from this trend.

However, it remains to be seen whether XRP can sustain such a steep rally in the short term, given the high volatility in crypto markets. Nevertheless, Standard Chartered’s bullish view on XRP signals strong confidence in the token’s potential for the long term.output: Major financial institutions are making bold bets on Ripple’s XRP, with Standard Chartered (StanChart) projecting that the token could hit $5.50 by the end of 2025. This represents a 223% gain from current levels in just eight months.

According to reports from News.Az, citing Coinfomania, which in turn referenced an opinion piece on Standard Chartered’s website, the bank’s Global Head of Digital Assets Research, Geoff Kendrick, has attributed the anticipated rise in XRP price to a mix of favorable market dynamics.

This includes increased institutional demand, exchange-traded fund (ETF) approvals, and Ripple’s strategy to tokenize assets, which could benefit from the growing interest among traditional banks and fintech players.

According to Kendrick, the U.S. Securities and Exchange Commission (SEC)’s case against Ripple will likely reach a turning point this year, allowing institutions to participate more fully in crypto markets.

“With cross-border payments another area of institutional focus, we prefer to Standard Chartered’s picks on cryptocurrencies for 2024,” stated Kendrick in the opinion piece.

He also went on to project that XRP could outstrip Ethereum in market cap by 2028.

As several crypto ETFs have already been approved in the U.S. and more are likely in the coming months, institutional investors will have more avenues to gain direct exposure to cryptocurrencies.

Standard Chartered’s forecast for XRP’s price potential comes amid growing interest from traditional banks and fintech players in tokenizing assets such as bonds, equities, and real estate. Ripple’s technology, which uses XRP for cross-border payments and other services, could benefit from this trend.

However, it remains to be seen whether XRP can sustain such a steep rally in the short term, given the high volatility in crypto markets. Nevertheless, Standard Chartered’s bullish view on XRP signals strong confidence in the token’s potential for the long term.