XRP Eyes Ethereum’s Market Cap

Geoffrey Kendrick from Standard Chartered has made a significant prediction regarding the future market status of XRP, an altcoin of Ripple. He anticipates that it may surpass Ethereum in terms of market capitalization within three years. This forecast is driven by XRP’s enhanced utility, Ripple’s stable financial framework, and growing institutional attention. This viewpoint gained more credibility as the NYSE approved a leveraged XRP ETF, indicating strong interest in XRP from mainstream financial sectors.

Could XRP Surpass Ethereum?

In global payments, XRP’s reach is expanding. Ripple, XRP’s parent company, is progressing in cross-border transactions, targeting a significant share of SWIFT’s current market in the next five years. This vision is shared by CEO Brad Garlinghouse, who believes XRP could support international money transfers to a large extent.

Why is Interest in XRP Growing?

Ripple’s partial courtroom success against the SEC has provided its institutional partners with greater assurance. Additional confidence was injected into the market when Ripple repurchased its shares at a substantial premium, indicating its commitment to investors. Ripple currently holds $3.7 billion in cash and 41 billion XRP coins worth around $91 billion, positioning itself strongly in the market.

Kendrick stresses the importance of a long-term perspective in the unpredictable cryptocurrency market. Despite temporary tax-related concerns, he views Bitcoin‘s stable trajectory as indicative of broader market potential. Institutional interest in XRP is central to its potential ascent.

Blockchain technology adoption by traditional finance gives Ripple an advantage. If Ethereum grapples with issues like scaling and gas fees, Kendrick believes that XRP might attract more institutional interest than Ethereum.

Currently, XRP teeters at $2.16, with a 24-hour trading volume of $2.71 billion. For Kendrick’s 2028 projection, XRP must grow approximately 2.5 times from its current price. Considering its previous year’s impressive growth of over 360%, such a rise appears within reach.

• XRP is set to capture 14% of SWIFT’s market share in five years.
• Ripple boasts $3.7 billion cash, 41 billion XRP valued at $91 billion.
• NYSE approval of leveraged XRP ETF indicates rising mainstream interest.
• XRP needs to increase by 2.5 times for 2028 target.

Ripple’s financial health and strategic direction, combined with changing dynamics in Ethereum’s operational challenges, might push XRP to reach and even surpass new heights in the crypto market landscape. Kendrick’s insights position XRP as a significant player to watch.