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Global banking giant Standard Chartered has poured cold water on market optimism by cutting its price forecast for XRP by 65%, from $8.
According to cryptocurrency-focused media outlet DL News on February 16 (local time), Standard Chartered lowered its year-end price target for XRP by 65% from its previous estimate, reflecting the sharp downturn in the crypto market in February. The UK-based investment bank had initially projected that XRP would reach $8 by the end of 2026, but in a recent letter to investors revised that target down to $2.80.
Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, described recent price movements in digital assets as highly challenging. He explained that short-term expectations across assets were being lowered due to the likelihood of further declines. In February in particular, the crypto market experienced its worst crash in four years, severely dampening investor sentiment.
Bitcoin (BTC) plunged 28% over the past month, falling to the $60,000 level before staging a slight rebound, showing volatile movements. Other crypto assets were hit similarly, with XRP dropping to $1.16 during the recent sell-off, marking its lowest level in 15 months. XRP remains 59% below its all-time high recorded last July.
Kendrick predicted that ongoing market uncertainty means it could take considerable time for prices to recover. As total crypto market capitalization evaporated and key support levels broke down, major institutional investors have increasingly adopted a wait-and-see approach. Although a technical rebound has followed the large-scale sell-off, prevailing analysis suggests it is insufficient to fully reverse the downward trend.
The shift toward a more conservative outlook by a global financial institution calls for caution among market participants. As the rosy future once presented by a major bank has been revised in light of short-term market shocks, investors are increasingly emphasizing risk management over buying the dip. Whether key assets such as Bitcoin and XRP can establish strong support levels will be a critical factor determining the market’s future direction.
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