Standard Chartered Cuts XRP Price Target by 65% Amid Market Turmoil

Standard Chartered's year-end price target for XRP has been slashed by 65% to $2.80, as the bank expects further near-term declines across digital assets.

The global head of digital assets research at Standard Chartered, Geoffrey Kendrick, also reduced forecasts for Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other major cryptocurrencies.

XRP has been hit hard by the market downturn, falling to $1.16 in February, its weakest level since November 2024, before partially recovering.

Kendrick warned that Bitcoin could test $50,000 before recovering later this year.

The bank's revisions follow what analysts described as the sector's worst downturn in nearly four years.