Standard Chartered anticipates a 330% increase in XRP’s price.

XRP Price Prediction Soars Following Regulatory Developments

Jeffrey Kendrick, who leads Digital Asset Research at Standard Chartered Bank, recently shared a notably optimistic price forecast for XRP. This bullish outlook comes in light of recent favorable events, including the SEC’s decision to drop its appeal against Ripple and the subsequent approval of a spot exchange-traded fund (ETF) linked to XRP.

The protracted legal dispute between the SEC and Ripple finally reached a resolution in August of this year. Ripple, as a company, uses XRP to enable swift and cost-effective international transactions.

Back in December 2020, the SEC had accused Ripple and its leadership of conducting an unregistered securities sale by offering XRP tokens. Ripple defended itself by asserting that XRP should be classified as a digital currency rather than a security.

This legal saga had significant repercussions for the crypto industry. A court ruling in July 2023 stated that Ripple’s XRP sales on exchanges didn’t qualify as securities transactions. Still, the court found that selling XRP tokens to institutional investors did violate securities laws.

Although this was a partial win for Ripple, the SEC appealed the court’s ruling, insisting on continuing the courtroom battle. After some tumultuous legal proceedings, the SEC ultimately withdrew its appeal against Ripple in August.

Post this development, several well-known firms—including Franklin Templeton, Canary, 21Shares, Bitwise, and Greyscale—quickly moved to launch spot XRP ETFs in the U.S.

According to the analytics platform SoSoValue, the Spot XRP ETF managed to attract a remarkable $1.14 billion in new investments by December 26. Given these positive shifts, Kendrick predicts that XRP could hit a price of $8 by 2026.

Analysts on Wall Street suggest that the newfound regulatory clarity surrounding XRP as a financial asset and advancements in related ETFs are key factors enhancing their price predictions.