Standard Chartered has revised its end-of-year price target for XRP, slashing it by 65% to $2.80 due to ETF outflows and macroeconomic challenges affecting the broader cryptocurrency market. This adjustment marks a significant shift from their initial forecast of $8 by 2026. The decision reflects ongoing struggles in the crypto sector, highlighted by significant selloffs and downward market trends, with XRP having recently dropped to its lowest price in 15 months before a slight recovery. ETF outflows have intensified price pressures, particularly with XRP-linked funds experiencing a sharp capital decrease. Additionally, the potential passage of the Clarity Act in the US Senate offers a regulatory framework that could stabilize the market, seen as a crucial step for XRP’s future recovery.
Standard Chartered cuts XRP price target by 65%, cites market challenges
