XRP could rally 500% and overtake Ethereum in market cap, says Standard Chartered

For years, XRP has been the underdog of the crypto elite: bruised by lawsuits, doubted by skeptics, and written off by Ethereum-maxis. But if Standard Chartered's latest prediction holds water, that narrative could flip—literally.

In the ever-shifting landscape of cryptocurrency, one coin has endured a tumultuous journey: XRP. Bruised by lawsuits, doubted by skeptics, and written off by Ethereum-maxis, it has been the underdog of the crypto elite. But if Standard Chartered’s latest prediction holds water, that narrative could flip—literally.

The banking giant just dropped a bombshell: XRP could rally 500 percent and overtake Ethereum in market cap. It’s a claim that has ignited both excitement and controversy across the cryptosphere, challenging everything we thought we knew about the pecking order of digital assets.

Is it pure hype, or the beginning of XRP’s redemption arc? As Ethereum continues to dominate DeFi and smart contracts, XRP’s comeback hinges on speed, utility, and global adoption. In this deep dive, we’ll unpack the bold prediction, the catalysts behind it, and whether XRP really has what it takes to flip the king of Layer 1s.

XRP takes aim at Ethereum as Standard Chartered calls a 500% rally

Standard Chartered isn’t exactly known for its crypto predictions, but when they speak, people listen. And when they release a report projecting a 500 percent surge in XRP, making it the second-largest non-stablecoin asset in the world, heads turn.

That’s the claim made by Geoffrey Kendrick, the bank’s global head of digital assets research, in a recent report. Projecting XRP to hit $12.50 by 2028, Kendrick predicts a complete reversal of fortunes for the coin, which currently trades around $0.50.

At present, XRP’s market cap is over $110 billion, placing it as the fourth-largest crypto asset, trailing Bitcoin, Ethereum, and Binance Coin. But with a 500 percent rally, XRP would easily slip past Ethereum and become the second-largest asset, behind Bitcoin.

Chart of major cryptocurrencies’ market caps- Source: CoinGecko

“We expect cryptocurrency market caps to converge broadly with the market values of major asset classes by 2028,” said Kendrick.

According to Glassnode data, the total cryptocurrency market cap now stands at around $1.16 trillion, while the global stock market capitalization is approximately $114 trillion.

Considering the vast difference in market caps, even a 500 percent rally in XRP would be required to reach a market cap similar to a major asset class like U.S. equities.

Moreover, Standard Chartered predicts that a spot XRP ETF could be approved as early as Q3 2025, potentially pulling in $4 to $8 billion in its first year.

That kind of liquidity injection could be crucial for XRP, which typically sees low volumes compared to other major cryptocurrencies.

At the same time, Ripple is integrating XRP into Wall Street’s fabric. Its $1.25 billion acquisition of Hidden Road, a prime brokerage heavyweight, is opening doors for cross-asset settlement.

Plus, futures markets are heating up, with 2x leveraged XRP ETFs launching and nano futures filings in motion.

Even legal headwinds are calming down. The SEC and Ripple just moved to finalize a $50 million settlement, concluding a years-long court battle that began in December 2020.

Kendrick adds that this administrative action is swiftly advancing due to political timing, aligning with a possible Trump re-election in November 2024.

He predicts that the SEC will approve a spot clean bitcoin ETF before the U.S. presidential election, and if Trump is running, the approval will be announced earlier.

However, if Biden is seeking re-election in 2028, the approval might be delayed until after the election.

“We expect the SEC to approve a spot bitcoin ETF by 2025 at the latest. If Trump is running for president again in 2024, we might see the approval as early as the third quarter of 2025. But if Biden is running again in 2028, we might not see the approval until after the election, which could take place in November 2028,” said Kendrick.

For a coin that was once written off and left for dead, XRP is certainly making a comeback. And if Standard Chartered’s predictions hold true, it might just flip the script and overtake Ethereum in the process.

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