Key insights
- Spot ETF inflows could unlock $4–$8 billion in first-year institutional XRP demand.
- XRP’s payments utility strengthens its case as regulated capital gains access.
- Market cap dynamics may shift during the 2026 bull market cycle.
Standard Chartered Sees XRP Hitting $12.50 by 2028 as Spot ETF Inflows Loom
Inflows of spot ETFs are introducing a new wave of institutional crypto desk interest in financial institutions around the globe. Under the changing market conditions, Standard Chartered has estimated that XRP would be $12.50 by the year 2028.
https://x.com/Xaif_Crypto/status/2012633458364023096?s=20
This is predicted by analyst Geoffrey Kendrick, who described structural changes in favor of long-term appreciation. His perspective identifies regulatory advancement, broadened institutional access and increased integration in the capital markets.
The analysis of Kendrick gives great importance to on-the-spot ETF inflows as a market driver. He says the exchange-traded products would open up capital that had been closed by uncertainty of compliance in the past. Over the years, XRP has had little institutional engagement because of unanswered legal and regulatory issues. Those obstacles are now becoming relaxed in major financial jurisdictions.
The momentum on approvals in the recent past has turned the tide of XRP. The institutional confidence is increasingly being measured using spot ETF inflows, which are becoming a particular concern of the market players. Some asset managers are developing products directly based on the spot of XRP. It is estimated that there may be up to six live funds in the market within a narrow time.
Spot ETF inflows reshape XRP market outlook
The inflows of spot ETFs will become the focal point of the further period of XRP growth. Kendrick approximates inflows in the first year to be between $4 billion and $8 billion. These would be a significant change in the liquidity of the asset. They would also match the institutional adoption trends of other large cryptocurrencies to XRP.
These flows are also more long-term as opposed to the case of speculative trading surges. Generally, inflows in spot ETFs are based on strategic placement and not strategic positioning. This is a potential dynamic that would decrease volatility and allow the price discovery to be sustained. It can also appeal to pension funds and asset managers who are interested in regulated exposure.
XRP utility draws institutional capital attention
The current use of XRP in international payments is one of the reasons why the cryptocurrency is unlike most digital assets. The network is conducive to a high settlement rate and a low transaction rate.
These characteristics are much in tandem with the institutional requirements in the cross-border finance. Kendrick feels that this real-world utility makes the case for investment stronger.
Source: CoinCodex
The inflows to the spot ETFs may enhance that benefit by making it more visible to traditional investors. With the increasing accessibility, XRP can be considered as a less speculative token. Rather, it might be perceived as infrastructure of tokenized financial flows. This change of perception is significant to the long-term models of valuation.
The present price of XRP close to 2 is an indication of a market that still values uncertainty. Kendrick reports that multiples of valuation are small relative to the peers. In case of institutional demand, repricing might take place at a rapid pace. The inflows of the ETFs using spot may be the trigger of that adjustment.
The market cap debate intensifies during bull cycles
The perspective of Kendrick goes beyond the price targets. He says that XRP may be able to threaten the market value of Ethereum in the 2026 bull cycle. This situation relies on the capital rotation in late market expansions. Traditionally, assets that have the benefit of improved access can beat already successful leaders.
Inflows of the spot ETF can make XRP an institutional proxy of choice. The Ethereum ecosystem is still leading, yet the capital dynamics can change very rapidly. In case XRP is used as a major settlement asset, growth rates may separate. Such deviation can reduce the market cap gap at a faster rate than anticipated.
The valuation of $12.50 is based on judgment of adoption and not speculative overvaluation. The background is made up of spot ETF inflows, regulatory clarity, and liquidity present. The two of them imply that XRP is in a new stage of the market. This stage gives priority to access, compliance and relevance.
Many structures are being transformed as Wall Street becomes more digital. Spot ETF inflows can be seen as a transition to blockchain networks and traditional finance. In the case of XRP, such a bridge can be the determining factor in its direction in the next cycle. The prediction highlights the movement of the narrative-based rallies to capital-based growth.
