Standard Chartered Slashes XRP Price Target Amid Cryptocurrency Market Downturn

Standard Chartered has cut its year-end XRP price target by 65% to $2.80, citing the cryptocurrency market's worst downturn in nearly four years.

The bank expects near-term price declines across digital assets, with Bitcoin (BTC) forecasted to reach $100,000 from an initial target of $150,000 and Ethereum (ETH) reduced to $4,000 from $7,000.

Geoffrey Kendrick, Standard Chartered's global head of digital assets research, warned that bitcoin could test $50,000 before recovering later this year.