Standard Chartered cut its year end price target for XRP by roughly 65% to $2.80, down from a prior forecast of $8, citing persistent weakness across digital assets.

The revision follows what analysts described as the most severe crypto downturn in nearly four years. XRP fell as low as $1.16 last month, its weakest level since late 2024, before staging a partial rebound.

Geoffrey Kendrick, the bank’s global head of digital assets research, said recent price action has been particularly challenging and warned of further near-term declines, prompting the bank to lower projections across the asset class.

Standard Chartered also reduced its year-end targets for Bitcoin to $100,000 from $150,000, Ethereum to $4,000 from $7,000, and Solana to $135 from $250.

ETF flows have mirrored the pullback. Assets in XRP-linked exchange-traded funds fell from $1.6 billion on January 5 to about $1 billion by mid February, according to SoSoValue data, marking a roughly 40% decline.