Standard Chartered has slashed its end-of-year price target for XRP by a staggering 65% as its analysts revise their outlook following February’s brutal crypto market selloff.

The British investment bank previously forecast XRP to hit $8 by the end of 2026. That prediction was lowered to $2.80 in a Thursday note to investors shared with DL News.

“Recent price action for digital assets has been challenging, to say the least,” Geoffrey Kendrick, the bank’s global head of digital assets research, said in the note. “We expect further declines near-term and we lower our forecasts across the asset class.”

In recent…