XRP Will Overtake Ethereum By 2028: Standard Chartered

Standard Chartered on Tuesday forecasted that XRP’s XRP/USD market capitalization will overtake Ethereum's ETH/USD by the end of 2028, positioning XRP as the second-largest non-stablecoin digital asset.

What Happened: The bold prediction, made by Geoffrey Kendrick, head of digital assets research at Standard Chartered, highlights XRP's growing role in cross-border payments amid shifting market dynamics.

The announcement coincides with the New York Stock Exchange's approval of a new leveraged XRP exchange-traded fund, signaling increased mainstream interest in the cryptocurrency.

In a note shared with Benzinga, Kendrick emphasized XRP's potential to outpace Ethereum over the next few years.

"By the end of 2028 we see XRP's market cap overtaking Ethereum's," he wrote, attributing the shift to XRP's core utility as a platform for cross-border and cross-currency payments.

He noted that this segment of the digital asset market is experiencing a sustained increase in transaction volumes, a trend Standard Chartered expects to persist, bolstering XRP's value proposition.

Kendrick's analysis positions XRP alongside Bitcoin and Avalanche as top performers in the digital asset space, while identifying Ethereum as a relative underperformer.

"XRP's core use is as a cross-border and cross-currency payments platform," Kendrick stated, underscoring its practical application as a key driver of its projected growth.

He added that Bitcoin's resilience during recent market turbulence, including global tariff concerns, suggests a broader upward trajectory for cryptocurrencies, with XRP poised to benefit significantly.

Also Read: Bitcoin Is A ‘More Liquid And Higher Volatility Version Of Gold’: Bernstein

Why It Matters: The prediction comes as XRP gains traction in traditional financial markets.

The NYSE approved the Teucrium 2x Long Daily XRP ETF (XXRP), set to launch on April 8.

This leveraged ETF, designed to deliver twice XRP's daily price performance through swap contracts, marks a milestone as the first XRP-tied ETF in the U.S.

Unlike spot ETFs, it does not hold XRP directly but tracks its daily movements, offering investors an alternative entry point into the asset's price action.

Following the news, XRP's price rose approximately 11%, reaching $1.96, according to Coingecko data.

Kendrick urged investors to remain focused on long-term opportunities despite short-term volatility. "Keep looking for winners and HODLing those you already own.

Tariff mess will be over soon, and Bitcoin's solid performance during the noise tells us a leg higher for the asset class will follow," he advised.

The bank's outlook reflects confidence in XRP's ability to capitalize on its niche in facilitating efficient international transactions, a use case that sets it apart from Ethereum's broader focus on smart contracts and decentralized applications.

While no spot XRP ETF has been approved in the U.S., the Securities and Exchange Commission has acknowledged several filings this year, suggesting regulatory progress.

Bloomberg ETF analyst Eric Balchunas said on the unusual nature of a leveraged ETF preceding a spot product, noting that it's a rare occurrence in the digital asset space.

The XXRP fund carries an annual expense ratio of 1.85%, reflecting the costs of its derivative-based strategy.

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