Despite XRP price facing bearish pressure from macroeconomic headwinds, the altcoin is surrounded by multiple bullish catalysts. These include the end of the SEC lawsuit, possible SWIFT integration, and, most recently, the projected growth of the stablecoin market. Standard Chartered estimates that the stablecoin market will grow to $2 trillion by 2028. If Ripple’s RLUSD captures 50% of this market, how high would XRP price rally? Let’s find out.
XRP Price in Focus if RLUSD Reaches $1 Trillion Market Cap
XRP price and Ripple’s RLUSD are poised for growth after multinational banking giant Standard Chartered reported that the stablecoin market cap will grow tenfold to $2 trillion within three years. The bank attributed this growth to friendly legislation in the US, like the GENIUS Stablecoin Act. It noted,
“The volume of stablecoins outstanding is set to explode after the US passes legislation in a few months from now… We estimate this would cause total stablecoin supply to rise from $230bn today to $2tn by year-end 2028.”
Once the GENIUS Act passes, it will support the growth of US-made stablecoins like RLUSD, which currently has a market cap of $293M and accounts for 0.12% of the total stablecoin market cap of $236 billion according to data from CoinGecko.
If RLUSD attains a $1 trillion market cap by 2028, the price could surge to $12.50 per another XRP forecast by Standard Chartered. At the same time, Grok3 noted that if RLUSD attains this market cap, it will amplify the role of XRP in cross-border payments. This may push the price to nearly $50.
“If Ripple’s RLUSD attains a $1 trillion market cap by 2028, the XRP price could rise significantly due to increased ecosystem adoption and utility. XRP’s price is likely to range between $24 and $50 by 2028. This assumes RLUSD’s success amplifies XRP demand.”
Going by these estimates, Ripple’s RLUSD stablecoin is a major catalyst for the future growth of the XRP price.
Short-Term XRP Forecast
The one-day price chart shows a bullish XRP price forecast as Ripple trades within a falling wedge pattern. This is a bullish reversal pattern that will indicate that XRP is ready for a break to the upside if it flips resistance at the upper trendline. However, if Ripple breaches support at the lower trendline, it will invalidate the bullish thesis.
Meanwhile, the RSI is rising from oversold conditions and testing 50, confirming that the bearish momentum is waning. If it confirms a breakout above 50, it will indicate a momentum shift to bullish. The shrinking AO histogram bars also show waning bearish sentiment, but also need to move above the zero line to confirm that bulls are in control.
If buyers overpower the sellers, the XRP price may break out of the upper trendline of a falling wedge pattern. If it breaches resistance at the 50% Fibonacci level of $2.51, it will drive the recovery to $3.40.
In conclusion, the projected growth of the stablecoin market and the potential for RLUSD to scoop a massive share suggest that the XRP long-term forecast is bullish. The one-day chart also hints towards a trend reversal from bearish to bullish.
The post Here’s XRP Price If Ripple’s RLUSD Captures 50% of $2T Stablecoin Market appeared first on CoinGape.