Standard Chartered Cuts XRP Price Target 65% To $2.80 As Crypto Market Tumbles

British investment bank Standard Chartered reduced its year-end XRP price target to $2.80 from $8, a 65% cut following February's cryptocurrency market selloff.

The bank expects additional near-term price declines across digital assets.

Geoffrey Kendrick, Standard Chartered's global head of digital assets research, lowered forecasts for Bitcoin ($BTC ), Ethereum ($ETH ), Solana ($SOL ) and other major cryptocurrencies.

The revisions follow what analysts described as the sector's worst downturn in nearly four years.

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