Standard Chartered Cuts XRP Price Target Amid Market Decline
- Standard Chartered has reduced its XRP price target for the end of 2026 from $8 to $2.80, a decrease of 65%.
- The bank also lowered its Bitcoin price target to $50,000 due to challenging market conditions.
- XRP has seen a price increase of approximately 35% since February 6, reaching $1.55, outperforming both Bitcoin and Ethereum.
- XRP reserves on Binance fell by about 192 million XRP to a total of around 2 billion between February 7 and February 9.
- Retail investor activity surged on Coinbase following the recent dip in XRP prices.
The drastic reduction in Standard Chartered’s forecast reflects broader challenges in the cryptocurrency market, with analysts re-evaluating their predictions based on recent sell-offs and price volatility.
Despite the downturn, XRP’s recent recovery indicates strong buying interest among investors, as evidenced by its rise to $1.55 after hitting lows earlier this month.(Source)
