$800 billion banking giant cuts XRP price target by 65%

Going into 2026, the banking giant Standard Chartered was consistently and decisively bullish regarding cryptocurrencies despite the decline from the October 2025 all-time highs (ATH) arguably being in full swing.

Indeed, the British behemoth with some $800 billion in assets under management (AUM) was forecasting very high 2026 year-end prices for multiple digital assets, with XRP – with a predicted rise to $8 – being no exception.

The situation has changed since, and Standard Chartered appears to be capitulating to the prevailing cryptocurrency market winds. In a Thursday note, the banking giant revealed it is slashing its XRP price target by a staggering 65%.

Still, it is notable that, as drastic as a 65% price target cut is, Standard Chartered remains surprisingly bullish about XRP. At press time on February 17, the token was changing hands at $1.45, meaning that the updated forecast for a $2.80 year’s end price still indicates a 91% rally is anticipated.

XRP price YTD chart. Source: Google

Standard Chartered still remains bullish on crypto 

XRP’s momentum since 2026 started makes such relative optimism somewhat unexpected. Specifically, the cryptocurrency started the year changing hands at $1.84, meaning it had collapsed 20.93% in approximately one and a half months. 

On the other hand, Standard Chartered’s $2.80 2026 XRP price forecast is consistent with the bank’s outlook for the greater cryptocurrency market. 

For example, the corporation reduced its Bitcoin (BTC) forecast from $150,000 earlier in February but elected to continue predicting a 2026 upside.

At press time, BTC is trading at $67,946 following a 22.27% year-to-date (YTD) crash.

BTC price YTD chart. Source: Google

In stark contrast, Standard Chartered, even after the downward revision, estimates Bitcoin will rally 45% to $100,000 through the rest of 2026.

Featured image via Shutterstock

Source: https://finbold.com/800-billion-banking-giant-cuts-xrp-price-target-by-65/