Standard Chartered Slashes XRP Price Target by 65%, Cites Market Headwinds
Standard Chartered Bank has significantly revised its year-end price target for XRP, lowering it from $8 to $2.80, a reduction of approximately 65%. The financial institution also anticipates continued pressure on the broader cryptocurrency market in the short term.
Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered, commented on the recent "extremely challenging" performance of digital assets, which prompted the adjustment of forecasts across the asset class.
In addition to XRP, Standard Chartered has also reduced its year-end price targets for other major cryptocurrencies: Bitcoin (BTC) has been lowered to $100,000 (from $150,000), Ethereum (ETH) to $4,000 (from $7,000), and Solana (SOL) to $135 (from $250).
The analysis was reported by DL News.
#crypto #blockchain #news #BTC #Bitcoin
Standard Chartered Bank has significantly revised its year-end price target for XRP, lowering it from $8 to $2.80, a reduction of approximately 65%. The financial institution also anticipates continued pressure on the broader cryptocurrency market in the short term.
Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered, commented on the recent "extremely challenging" performance of digital assets, which prompted the adjustment of forecasts across the asset class.
In addition to XRP, Standard Chartered has also reduced its year-end price targets for other major cryptocurrencies: Bitcoin (BTC) has been lowered to $100,000 (from $150,000), Ethereum (ETH) to $4,000 (from $7,000), and Solana (SOL) to $135 (from $250).
The analysis was reported by DL News.
#crypto #blockchain #news #BTC #Bitcoin