Standard Chartered Cuts XRP Price Target by 65% Amid Cryptocurrency Market Downturn
Standard Chartered has cut its year-end XRP price target to $2.80 from $8, a 65% reduction following February's cryptocurrency market downturn.
The bank's global head of digital assets research, Geoffrey Kendrick, lowered forecasts for major cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH), with predictions now at $100,000 and $4,000 respectively.
Kendrick warned that Bitcoin could test $50,000 before recovering later this year. XRP has fallen to $1.16, its weakest level since November 2024, and trades approximately 59% below its July 2025 all-time high of around $3.40.
Assets in XRP exchange-traded funds dropped from $1.6 billion on January 5 to approximately $1 billion by mid-February, reflecting broader investor caution following the market downturn.