XRP news today: Standard Chartered Predicts $8 XRP Price by 2026 with US ETF Approval

Standard Chartered, a prominent financial institution, has set a price target of $8 for XRP, the cryptocurrency associated with Ripple. This forecast is contingent on the approval of a spot XRP exchange-traded fund (ETF) in the United States. Geoff Kendrick, the head of digital assets research at Standard Chartered, based his prediction on comparative data from Europe, where Bitwise has listed exchange-traded products (ETPs) for various cryptocurrencies, including XRP. Kendrick noted that altcoins tend to garner a larger percentage of ETP net asset value (NAV) as a percentage of coin market capitalization compared to Bitcoin and Ethereum. He projected that a US-listed spot XRP ETF could attract between $4.4 billion and $8.3 billion in inflows within its first year, depending on the NAV-to-market-cap ratios of already approved US spot ETFs.

Kendrick also forecasted that the price of XRP could rise to $8 by 2026, assuming a spot XRP ETF is approved in the US. This prediction is based on the assumption that XRP price gains will keep pace with Bitcoin's price growth targets. Standard Chartered anticipates Bitcoin's price to reach $120,000 in the second quarter of this year, $200,000 by the end of 2025, and $500,000 by 2028. Kendrick's forecast for XRP includes price levels of $5.50 at the end of 2025, $8.00 at the end of 2026, $10.40 at the end of 2027, $12.50 at the end of 2028, and $12.25 at the end of 2029.

However, analysts at Bitfinex have expressed caution, suggesting that investor interest in a US-based spot XRP ETF may not match the enthusiasm seen with Bitcoin ETFs. They expect limited inflows into an XRP ETF, as some investors may choose to diversify their exposure across various crypto ETFs. This differing outlook reflects the broader uncertainty surrounding how altcoin ETFs will perform in a regulated US market, where Bitcoin's dominance and changing regulatory attitudes toward digital assets continue to influence the crypto landscape.

Several firms, including Grayscale, Wisdom Tree, Bitwise, Canary, and 21Shares, have filed for XRP ETF approvals with the Securities and Exchange Commission (SEC). Bitwise's application received official acknowledgment on February 18, triggering a series of timelines for approval, denial, or extension. The final deadline for a decision on Bitwise's application is October 12, which coincides with the final deadline for BTC ETF approvals on January 10, 2024. Kendrick noted that other pending applications, such as those for Solana and Litecoin ETFs, could affect the timeline for XRP ETF approval. He suggested that Litecoin, being a hard fork of Bitcoin, might progress more quickly due to its similarity to Bitcoin, making it conceptually easier for investors to understand.

According to Kendrick, the approval of a Litecoin ETF could provide early insights into how the new SEC leadership will treat altcoin ETFs. This aligns with the forecast by Eric Balchunas, an ETF analyst, who predicted that a wave of cryptocurrency ETFs is likely next year, with BTC and ETH combo ETFs leading the way, followed by Litecoin, HBAR, and then XRP and Solana ETFs. The approval odds for XRP ETFs, as indicated by data on Polymarket, show a 39% chance of approval by July 31 and a 79% chance by December 31.