XRP Could Surge to $12.5 and Overtake Ethereum

XRP could surge to $12.5 and overtake Ethereum as the second-largest crypto asset by market cap before Trump's second term wraps up, according to a new report

Key Takeaways:

* Standard Chartered’s Geoffrey Kendrick predicts XRP to rally to $12.5 and become the second-largest cryptocurrency by market cap before Trump’s second term ends.

* By 2028, XRP’s market cap could surpass Ethereum’s, according to Kendrick’s report, ‘The Seven Sins of (Digital) Integration.’

* The analyst highlighted several positive catalysts for XRP’s price growth, including regulatory developments and institutional adoption.

* A key factor in XRP’s favor is the recent case resolution between Ripple and the SEC.

* According to Kendrick, spot XRP ETFs could attract up to $8 billion in the first 12 months if approved by the SEC in the third quarter of 2025.

Standard Chartered’s global head of digital assets research has made a bold prediction: XRP could skyrocket to $12.5 and become the second-largest cryptocurrency by market cap before Trump’s second term wraps up.

In his new report, ‘The Seven Sins of (Digital) Integration,’ Geoffrey Kendrick noted that XRP’s market cap could overtake Ethereum’s by the end of 2028.

Currently, XRP’s market cap stands at over $110 billion according to CoinGecko, placing it fourth on the list of largest crypto assets, lagging behind Bitcoin, Ether, and Tether.

For perspective, Ether’s market cap currently sits at around $183 billion.

XRP’s market cap previously peaked at $190 billion in January, and it has also, at times, surpassed Tether to claim the third-ranking spot.

Kendrick’s forecast is based on several factors, including expected regulatory developments and institutional adoption.

According to the analyst, a key positive catalyst for XRP’s price growth is the recent case resolution between Ripple and the SEC.

Last month, Ripple CEO Brad Garlinghouse said that the securities regulator had dropped its lawsuit against the blockchain company. Ripple has agreed to pay $50 million as part of the settlement, which does not require the firm to admit to any wrongdoing.

The SEC’s decision reflects a shift in regulatory approach under the current administration. Prior to Ripple, the agency had already withdrawn from several high-profile crypto enforcement cases.

XRP ETFs could attract up to $8 billion in first 12 months if approved

Kendrick also forecasts SEC approval for spot XRP ETFs in the third quarter of 2025, which he estimates could attract $4-8 billion in inflows within the first year. This projection falls in line with JPMorgan’s estimate.

The bank, in its January analysis, also anticipated first-year inflows for potential XRP spot ETFs to be in the range of $4 billion to $8 billion. JPMorgan’s forecast was based on the market penetration rates observed with existing Bitcoin and Ethereum ETFs.

Ripple’s CEO previously predicted XRP ETFs would make their market debut in the second half of 2025.

Regarding XRP’s use case in payments, Kendrick believes its cross-border payment functionality aligns with growing digital asset usage trends, similar to stablecoins, which he notes have seen 50% annual transaction volume growth and are projected to increase tenfold over four years.