Standard Chartered is the latest addition to the list of big financial players that think XRP has huge potential in the future. According to their estimates, the token could rise by as much as 330% in the next year.
Standard Chartered Shares Price Target for XRP in 2026
Geoffrey Kendrick, the global head of digital assets research at Standard Chartered, has made one of the most positive estimates for the Ripple coin. According to Kendrick, the coin may rise to $8 by 2026. This is an increase of 330% from the current price of $1.86.
The bank’s outlook is reportedly based upon developments within its ecosystem. For example, the increasing interest of spot XRP ETFs in the US. In November, several investment funds for the token launched for trading. These include funds from Franklin Templeton, Grayscale, Canary Capital, and many others.
These products help solve several problems that have made things difficult for institutions. One key issue is the risk involved with holding assets in custody. Data from SoSoValue reveals that these ETFs have attracted around $1.15 billion in overall investments as of December 29.
Apart from the ETFs, the main usability of the coin supports the narrative. Its main function is that it’s the native crypto of the XRP Ledger. The ledger requires less time to process transactions, and fees are lower than in SWIFT.
The CEO of Ripple, Brad Garlinghouse, has expressed that the XRPL may account for as much as 14% of the total payments facilitated by SWIFT within five years. Should the slightest chance of that prove true, then the token itself as a bridge currency may well experience a significant rise in demand.
Despite the optimism of Standard Chartered, not all analysts continue to hold the same view. Veteran trader Peter Brandt recently went bearish on the coin. He predicted that the token would sink below the price of $1. He highlighted that the token had formed a double top in the weekly charts, which is a sign of reversal of trends in many cases.
What Other Factors Are Driving the Bullish Outlook?
Participation from institutions surrounding the Ripple coin has continued to grow. In mid-December, CME Group launched spot-priced XRP futures. This means institutions can now have exposure with lower margins.
Meanwhile, the token has also made the headlines in the tokenization industry. Recently, the founder of the Cardano project, Charles Hoskinson, said Ripple and Midnight are working at scales much bigger than traditional finance’s tokenization industry.
In addition, Ripple has further built on the trend with a significant XRPL technological upgrade. This led to improved optimization and decentralized finance features.
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