XRP Could Rise 200% by Year’s End, Says Standard Chartered
In a recent analysis, Standard Chartered Bank has projected that the price of XRP could surge by approximately 200% before the end of the year. The bank’s digital assets researcher, Geoff Kendrick, initiated coverage of XRP, suggesting that it has the potential to reach $5.50 by the end of 2025. This outlook positions XRP, currently valued at around $1.80, as a strong contender in the cryptocurrency market.
Current Market Overview
As one of the largest cryptocurrencies by market capitalization, XRP has recently experienced a decline, dropping 6% within a 24-hour period. However, Kendrick’s assessment highlights the asset’s resilience, noting that XRP’s price gains could keep pace with Bitcoin in real terms. He stated, "XRP is uniquely positioned at the heart of one of the fastest-growing uses for digital assets—facilitation of cross-border and cross-currency payments."
A Promising Future
Kendrick also speculated that XRP might reach $12.50 before the conclusion of President Trump’s tenure in office. The ambitious forecast underscores the bank’s confidence in XRP’s integration into the evolving landscape of digital finance. XRP was created by Ripple Labs, known for its focus on enhancing the efficiency of international money transfers.
Ripple’s Regulatory Challenges
XRP’s journey has been marked by significant regulatory hurdles, particularly from the Securities and Exchange Commission (SEC), which filed a lawsuit against Ripple in 2020. The SEC accused Ripple of selling unregistered securities through the sale of XRP. Despite this, a federal district judge’s 2023 ruling indicated that programmatic sales of XRP to retail investors did not qualify as securities, a decision interpreted as a positive outcome for the cryptocurrency community.
Strategic Acquisitions
In a noteworthy development, Ripple recently announced its acquisition of the crypto-friendly prime brokerage Hidden Road for $1.25 billion. This move, one of the largest in the history of the cryptocurrency industry, may further bolster Ripple’s capability to facilitate cross-border payments and enhance its market standing.
Conclusion
The financial landscape for XRP appears to be shifting positively, with Standard Chartered’s projections adding to a growing sense of optimism within the cryptocurrency community. As Ripple navigates its regulatory challenges and continues to expand its operations, all eyes will be on XRP’s performance as the year progresses and beyond.
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