Crypto
Standard Chartered Slashes XRP Price Target Amid Crypto Market Downturn
Standard Chartered has reduced its year-end price target for XRP to $2.80, a 65% cut from its previous forecast of $8.
The bank's decision follows February's cryptocurrency market selloff, which saw XRP fall to $1.16, its weakest level since November 2024.
Geoffrey Kendrick, Standard Chartered's global head of digital assets research, has also lowered forecasts for other major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).
Kendrick warned that bitcoin could test $50,000 before recovering later this year, while assets in XRP exchange-traded funds have dropped from $1.6 billion to approximately $1 billion.