2 Cryptocurrencies That Can Soar Up to 324% by 2028, According to a Leading Wall Street Analyst

Key Points

• Cryptocurrencies have run absolute circles around Wall Street's major stock indexes over the last decade.
• A scorching-hot digital token expected to play a key role in transforming cross-border payments for financial institutions is forecast to leapfrog Ethereum in market value by 2028.
• Meanwhile, the most widely held digital currency can top $10 trillion in value in three years, if one lofty analyst prognostication proves accurate.
• 10 stocks we like better than XRP ›

Over the last century, no asset class has come particularly close to matching stocks on an annualized return basis. But over the last decade, cryptocurrencies have run wild and left the stock market's major indexes in their dust.

Although the vast majority of the digital currency landscape is highly speculative, the largest cryptocurrencies and blockchain projects are garnering the attention of some of Wall Street's leading investors and analysts. This includes Geoff Kendrick of Standard Chartered, who's no stranger to releasing reports or issuing price targets on the world's most-influential cryptocurrencies.

Based on a report issued earlier this year by Kendrick, two of the world's leading digital currencies can skyrocket by up to 324% over the next three years.

Image source: Getty Images. ## XRP: Implied upside of 294%

The first digital currency Kendrick has exceptionally high hopes for is XRP (CRYPTO: XRP). This is the bridge currency developed for Ripple's payment network (RippleNet) that's primarily used for cross-border transactions.

Kendrick is targeting $5.50 per XRP token in 2025, $8 in 2026, $10.40 in 2027, and $12.50 in 2028. If accurate, this would represent 294% upside, as of this writing in the late evening on July 26. It would also put XRP on path to become the second-largest cryptocurrency, surpassing current No. 2, Ethereum.

One of the primary catalysts listed by Kendrick is the expected emergence of spot XRP exchange-traded funds (ETFs). A spot ETF allows investors direct exposure to XRP, via an ETF, without having to buy it directly on a cryptocurrency exchange. An XRP spot ETF, should one be approved in the U.S., would almost certainly lead to a temporary cash inflow as select investors look to add XRP to their portfolios.

Standard Chartered's crypto analyst pointed to waning litigation between the Securities and Exchange Commission (SEC) and Ripple, as well. The latter agreed to a $50 million settlement with the SEC, while the former dropped its appeal. When coupled with the Donald Trump administration taking a favorable view of the crypto landscape, the gray clouds appear to be clearing for Ripple and its bridge digital currency XRP.

Story ContinuesThis probably goes without saying, but Kendrick's forecast is also based on the growing adoption of Ripple's payment platform by financial institutions. Successfully shuffling banks toward RippleNet and away from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which has been the cross-border payment standard for decades, will be critical for XRP's ascent.

But reaching $12.50 by 2028 -- or even sustaining its current token price of $3.17 -- could prove challenging.

One of the biggest thorns in XRP's side is that global financial institutions utilizing Ripple's payment platforms aren't necessarily using XRP as the bridge currency. Demand from financial institutions is going to be vital if XRP is to nearly quadruple in value over the next three years.

Furthermore, RippleNet isn't the only rodeo in town. Though the XRP Ledger can validate and settle transactions in three to five seconds, there are other blockchain-based payment networks that can settle even faster with similar/cheaper cost structures.

Wagering on XRP to leapfrog Ethereum by 2028 looks speculative, at best.

Image source: Getty Images. ## Bitcoin: Implied upside of 324%

However, the cryptocurrency with an even brighter future, based on Geoff Kendrick's price targets, is none other than Bitcoin (CRYPTO: BTC). He sees the world's leading digital asset climbing to $200,000 per token this year, $300,000 in 2026, $400,000 in 2027, and hitting $500,000 in 2028. This would equate to 324% upside over the next three years and send the total market value of Bitcoin to well over $10 trillion, if accurate.

Keeping with the theme, Kendrick has pointed to improved investor access as of the primary reason Bitcoin can continue its upward trajectory for years to come.

One of the ways this is being accomplished is through spot Bitcoin ETFs, of which there are nearly a dozen approved. Rather than purchasing Bitcoin on a cryptocurrency exchange and figuring out how you want to store it, investors can gain exposure through a spot ETF for a small fee (i.e., the net expense ratio).

Standard Chartered's global head of digital assets research also noted growing favorability toward crypto by the Trump administration. With fewer legal concerns entering the picture, Kendrick anticipates cash inflows and options volume liquidity will improve over time. This should lead to less volatility and growing confidence by investors in digital assets.

But a more-than-quadrupling in Bitcoin's value over the next three years is anything but a given considering the unsustainable demand spike caused by the Bitcoin treasury strategy, as well as historic precedent.

It can argued that Bitcoin's recent move higher is the result of public companies adopting Bitcoin treasury strategies. This involves companies using their cash, issuing stock, or issuing some form of debt, to fund the purchase of Bitcoin. Though this is providing a temporary demand floor for the world's top digital asset, these purchases are being made by generally obscure, poor-performing businesses whose operating models won't be remedied by holding Bitcoin on their balance sheet. If and when the Bitcoin treasury strategy bubble pops, this top-tier cryptocurrency could be in a world of hurt.

History marks the other undeniable headwind for Bitcoin. Emotion-driven gains in the top digital currency have historically been followed by sizable bear markets. Since Bitcoin was incepted, it's endured more than a half-dozen declines of 50% or greater. With Bitcoin neither legitimately scarce nor having any genuine real-world utility, historical precedent suggests $500,000 by 2028 is highly unlikely.

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Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and XRP. The Motley Fool recommends Standard Chartered Plc. The Motley Fool has a disclosure policy.

2 Cryptocurrencies That Can Soar Up to 324% by 2028, According to a Leading Wall Street Analyst was originally published by The Motley Fool

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