Standard Chartered Slashes XRP 2026 Price Target to $2.80 Amid Market Turmoil
Standard Chartered has significantly reduced its 2026 price target for XRP from $8 to $2.80, citing recent market challenges and heavy ETF outflows. XRP's price fell to $1.16, marking a 28% decline over the past month, as the broader crypto market experienced its worst downturn in nearly four years. The bank's global head of digital assets research, Geoffrey Kendrick, noted that analysts now anticipate further near-term declines.
The downgrade is part of a broader reassessment by Standard Chartered, which also lowered its forecasts for Bitcoin, Ethereum, and Solana. Bitcoin's target was cut to $100,000 from $150,000, Ethereum's to $4,000 from $7,000, and Solana's to $135 from $250. Despite these reductions, Kendrick mentioned potential benefits for XRP and Ethereum from developments in stablecoins and tokenized real-world assets. Meanwhile, regulatory developments, such as the U.S. Clarity Act, are being closely monitored for their potential impact on the crypto markets.