XRP could reach $ 12.50 before President Trump leaves Office, a report in a report on Tuesday said in a report, launching a coverage of the token linked to Ripple.
Standard Chartered predicts that XRP will reach $ 5.50 by the end of this year, $ 8 by 2026, $ 10.40 by the end of 2027 and $ 12.50 at the end of 2028. At the time of writing this document, XRP was negotiated almost 9% at $ 1.94.
The bank noted that XRP increased six times after the electoral victory of Donald Trump in November, reflecting the expectations that the Securities and Exchange Commission (SEC) would abandon its appeal against Ripple, and due to the potential approval of the funds negotiated in exchange XRP (ETF).
Such gains are durable, said the bank, partly due to dry leadership changes, but also because “XRP is only positioned at the heart of one of the fastest growth in use of digital assets – Facilitation of cross -border and transversal payments”.
“XRPL is similar to the main use case for stablescoins such as Tether: financial transactions compatible with blockchain that have been traditionally carried out through traditional financial institutions (tradfi),” wrote Geoffrey Kendrick, manager of digital asset research at Standard Bank.
Stablecoin transactions are expected to increase ten times in the next four years, according to the report.
Stablecoins are cryptocurrencies whose value is linked to another asset, such as US dollar or gold. They play a major role in the cryptocurrency markets and are also used to transfer money internationally.
Ripple also plans to push XRPL into the tokenization space, noted the bank. XRPL is the decentralized Public Blockchain of XRP and is used for payments.
These positive factors mean that XRP should follow its greatest Bitcoin by peers (BTC), in terms of price appreciation, said the bank.
XRPL suffers from two faults, the small number of developers and its limited value capture, but these are more than offset by positive tail winds, added the report.
Find out more: First XRP ETF in the United States to go online on Tuesday with the launch of the Teucrium lever effect fund
