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Standard Chartered Sees XRP Outpacing Ethereum Within 3 Years
Standard Chartered has projected that Ripple’s native token, XRP, may surpass Ethereum in market capitalization by the end of 2028. This forecast is based on several key factors, including legal clarity, institutional adoption, and broader cryptocurrency market trends.
The bank’s Head of Digital Asset Research, Geoff Kendrick, emphasized that current global trade dynamics present significant opportunities for digital assets like XRP to thrive. This outlook comes in light of the recent news where Ripple has achieved a major legal victory, following the Securities and Exchange Commission (SEC) dropping its appeal against Ripple, effectively concluding the $1.3 billion lawsuit.
The SEC had accused Ripple of conducting an unregistered securities offering, but the resolution removes any uncertainty surrounding XRP’s future prospects. The market responded positively to this news, resulting in a significant price surge for XRP.
Ethereum, on the other hand, is not without its own strengths. Despite the recent 6.88% decline and 21.81% drop over the past week, Ethereum remains a dominant force in the cryptocurrency market. Its ongoing upgrades and established presence make it an attractive option for investors seeking exposure to the decentralized finance (DeFi) space.
However, XRP’s recent developments have positioned it favorably within the market. The bank’s projection that XRP may outpace Ethereum by 2028 suggests that the tide is shifting in Ripple’s favor.
At the time of writing, Ethereum’s price has dipped to $1,461.39, a decrease of 6.88% over the past day and 21.81% in the past week according to CoinMarketCap data.
It remains to be seen whether Standard Chartered’s forecast will come to fruition, but one thing is clear: XRP’s legal victory has opened up new avenues for growth. As investors navigate the ever-evolving cryptocurrency landscape, it is crucial to stay informed about market trends and developments that could impact investment decisions.
Disclaimer: The article does not constitute a recommendation to buy or sell any securities or financial instruments.
Source: https://www.crypto-news-flash.com/standard-chartered-sees-xrp-outpacing-ethereum-within-3-years/?utm_source=rss&utm_medium=rss&utm_campaign=standard-chartered-sees-xrp-outpacing-ethereum-within-3-years
