XRP Could Hit $12.50 by 2028 as Spot ETFs Drive Demand

Wall Street Whale Calls XRP to $12.50 as ETFs and Institutional Demand Accelerate

Standard Chartered analyst Geoffrey Kendrick has sparked renewed debate on Wall Street and across the crypto market with a bold forecast that XRP could reach $12.50 by 2028. 

Far from mere speculation, his projection is anchored in accelerating regulatory clarity, growing institutional adoption, and the expanding momentum behind XRP-linked exchange-traded funds (ETFs).

At the core of this thesis is the accelerating push toward spot XRP ETFs. Kendrick argues that approvals in major markets could finally open the floodgates to institutional capital XRP has long been denied. 

With as many as six XRP ETF products potentially launching, projections point to $4–$8 billion in inflows within the first year. For an asset historically held back by legal uncertainty, this marks a decisive structural inflection point.

Why XRP? Unlike many digital assets still chasing real-world relevance, XRP is already embedded in the global payments ecosystem. Its unmatched speed, ultra-low fees, and scalability make it purpose-built for cross-border settlements and tokenized financial flows, exactly where institutional demand is accelerating. 

As regulatory clarity improves, the barriers that once kept traditional finance on the sidelines are rapidly dissolving, positioning XRP as a core infrastructure asset rather than a speculative bet.

Kendrick underscores XRP’s asymmetric upside at current valuations. While Bitcoin and Ethereum command the spotlight, XRP’s market structure offers greater multiple expansion if institutional demand accelerates with present price being $2.06 per CoinCodex data.

In a bullish setup, ETF-driven inflows combined with broader market momentum could rapidly reprice the asset.

More notably, Kendrick suggests XRP could challenge, and potentially overtake, Ethereum’s market capitalization in the 2026 bull cycle. This isn’t a critique of Ethereum’s ecosystem, but a reflection of late-cycle capital dynamics. 

Should XRP emerge as the preferred institutional bridge asset and ETF proxy, its market cap could scale faster than established Layer 1 incumbents.

Well, the $12.50 target for 2028 looks less like an outlier and more like a valuation grounded in adoption and expanding capital access. As Wall Street shifts from viewing crypto as a speculative fringe to a legitimate asset class, XRP’s combination of real-world utility, deep liquidity, and advancing regulatory clarity positions it as a credible contender in the next phase of digital finance.

Conclusion

XRP’s $12.50 projection isn’t just an ambitious price target, it signals a potential shift in how institutional capital engages with crypto. With spot XRP ETFs positioned to unlock billions in inflows, regulatory headwinds easing, and real-world payment utility already proven, XRP sits at the crossroads of finance and functionality. 

If the 2026 bull market unfolds as expected, XRP could evolve from a long-overlooked asset into a core pillar of institutional crypto portfolios, challenging market leadership beyond Bitcoin and Ethereum. Therefore, XRP’s next phase may be driven less by hype and more by sustained adoption and Wall Street–scale capital.