XRP investors are still in the red for the year, as the popular coin crashed by over 40% from its highest level in January. This XRP price crash has erased some of the coin’s gains in November of last year. This article looks at three key reasons why Ripple may surge in the long term after Standard Chartered delivered a $693B prediction.
Standard Chartered Delivers a $695 Billion XRP Price Prediction
Analysts at Standard Chartered, who have been accurate on their crypto forecasts, have delivered a bullish XRP price prediction. In a note, the analysts predicted that it will end the year at $5.5, up sharply from the current $2. They then expect it to get to $12.5 by 2028, which would imply a 525% jump from the current level. Such a move is possible since XRP jumped by almost 500% in November.
A move to that price target would boost the coin’s market cap to over $693 billion, up from $111 billion. This prediction is based on the current circulating supply of 58 billion. Assuming that Ripple Labs unlocks about 400 million tokens a month as it has done in the past, it means that there will be about 71.47 billion XRP tokens in circulation. This would give the network a market cap of over $892 billion.
Ripple Acquisition of Hidden Road
The other main catalyst that may push XRP price higher is its latest acquisition of Hidden Road, a company that offers prime brokerage, clearing, and financing across traditional and digital assets. In a statement, one crypto analyst said the following about the transaction:
“Ripple owns a top custody platform, they now own a prime brokerage, they already do payments. There’s a new financial world being built, and Ripple will own its essential pieces and tie them together with XRPL and XRP.”
The deal will help to make Ripple a bigger player in the financial services industry. Keep in mind that Ripple is already working to create partnerships as it seeks to disrupt SWIFT, the giant network that handles trillions annually. The path to these partnerships has been made clearer after the end of the SEC case against Ripple.
XRP Price Technical Analysis Says a Rebound is Possible
The other main reason why the XRP price may rebound is that it has strong technicals. The weekly chart shows that the coin has constantly remained above the 100-week moving average, a sign that the bullish trend is still intact.
Also, the coin has retested the major S/R level of the Murrey Math Lines tool and formed a doji candlestick pattern. A doji often leads to a strong recovery over time. Ripple price has also retested the key support at $1.9752, the upper side of the cup and handle pattern that formed between 2021 and 2024.
XRP Price Chart
Therefore, the coin will likely rebound in the long term, potentially rising to the YTD high of $3.4 and then $5. A drop below the major S/R level will cancel the bullish Ripple forecast.
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