Standard Chartered Slashes XRP Price Target 65% Amid Cryptocurrency Market Downturn

Standard Chartered has slashed its year-end XRP price target to $2.80 from $8, a 65% cut following February's cryptocurrency market selloff.

The bank's reduction in expectations is part of a broader forecast that includes lower targets for major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

XRP fell to its weakest level since November 2024, trading at around $1.16 last month before recovering partially.

The bank's global head of digital assets research, Geoffrey Kendrick, warned that bitcoin could test $50,000 before recovering later this year and noted XRP should maintain pace with ethereum given both assets' exposure to stablecoin development and tokenized real-world assets.