Standard Chartered has slashed its 2026 price target for XRP from $8.00 to $2.80, a drastic 65% reduction that has infuriated token holders. The revision is part of a broader digital asset forecast overhaul that also lowered Bitcoin and Ethereum targets.
XRP Target Cut: From $8 to $2.80
The bank's digital asset lead, Geoffrey Kendrick, described the current market as approaching a "final capitulation" before a potential rebound. But the downgrade has been met with widespread anger. Many in the XRP community argue the $2.80 figure fails to capture the token's long-term utility or institutional adoption potential.
Bitcoin and Ethereum Targets Also Reduced
Bitcoin's 2026 forecast dropped from $150,000 to $100,000, while Ethereum's slid from $7,500 to $4,000. The synchronized cuts signal a cautious near-term view from one of the largest foreign exchange banks, raising concerns about whether the broader crypto market is entering a prolonged downturn.
Community Reacts: 'A Joke'
Social media erupted with criticism. User KingValex called the $2.80 target "a joke," questioning why after ten years the token is still far from its promised potential. K. Morgan went further, accusing Kendrick of misunderstanding XRP's structural role. "The primary driver of XRP's valuation is its function in absorbing trillions trapped in Nostro/Vostro accounts, not speculative dynamics," Morgan said.
Long-Term Forecast Offers Some Hope
Despite the gloomy 2026 outlook, Standard Chartered maintained a bullish 2030 forecast for XRP at $28.00. The long-term projection suggests the bank still sees significant recovery potential once regulatory clarity and institutional adoption improve. However, for holders, the near-term pain remains hard to swallow.
The widening gap between market sentiment and institutional projections suggests the crypto volatility cycle is far from over.