Standard Chartered Slashes Crypto Price Forecasts Amid Market Downturn

Standard Chartered's digital assets research team led by Geoffrey Kendrick has made significant price target cuts for several major cryptocurrencies, including XRP. The bank's year-end XRP price target is now $2.80, a 65% reduction from its previous forecast of $8.

The revisions follow the sector's worst downturn in nearly four years, with XRP trading at around $1.16 last month, its weakest level since November 2024.

Standard Chartered also reduced its price targets for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) to $100,000 from $150,000, $4,000 from $7,000, and $135 from $250 respectively. Kendrick warned that Bitcoin could test $50,000 before recovering later this year.

The bank's forecast cuts reflect broader investor caution following the market downturn, with assets in XRP exchange-traded funds (ETFs) dropping 40% to around $1 billion by mid-February.