Standard Chartered has significantly reduced its XRP price target from $8 to $2.80, marking a 65% cut following a recent market selloff. This adjustment comes as the broader cryptocurrency market has seen nearly $2 trillion wiped out since October. Despite the downgrade, the bank maintains a long-term 2030 target of $28 for XRP, indicating potential structural upside. The bank also revised its forecasts for other major cryptocurrencies, lowering Bitcoin's target from $150,000 to $100,000, Ethereum's from $7,000 to $4,000, and Solana's from $250 to $135. While some, like crypto commentator Nick O’Neill, view these downgrades as a sign of collapsing expectations, others, including XRP advocate Bill Morgan, argue that the adjustments align with current market realities rather than signaling a negative long-term outlook. Standard Chartered's updated note, issued by Geoffrey Kendrick, Global Head of Digital Assets Research, suggests that while short-term declines may continue, there is potential for recovery later in 2026, especially if regulatory clarity improves and liquidity conditions stabilize.