Standard Chartered has significantly reduced its year-end price target for XRP from $8 to $2.8, marking a 65% decrease, as the bank anticipates continued short-term pressure on the crypto market. Geoffrey Kendrick, head of digital asset research at Standard Chartered, cited the "extremely challenging" recent performance of digital assets as the reason for revising forecasts across the asset class. In addition to XRP, the bank also lowered its year-end targets for Bitcoin to $100,000 from $150,000, Ethereum to $4,000 from $7,000, and Solana to $135 from $250.