Standard Chartered has announced a notable downward revision in its near-term price predictions for prominent cryptocurrencies, including XRP, Bitcoin, and Ethereum. This adjustment is attributed to a combination of diminished investor risk appetite and ongoing selling pressure from exchange-traded funds, factors that are anticipated to continue influencing market performance in the coming months. While the short-term outlook has been tempered, the bank maintains its long-term bullish stance on these digital assets.
Standard Chartered Adjusts Cryptocurrency Price Targets, Maintains Long-Term Optimism
On a recent Thursday, Standard Chartered's global head of digital assets research, Geoffrey Kendrick, issued a revised forecast for several major cryptocurrencies. The most significant alteration was seen in XRP's projected value for the end of 2026, which was dramatically reduced from an initial $8.00 to $2.80. A similar, though less drastic, cut was applied to Bitcoin's end-of-2026 target, moving it from $150,000 to $100,000. This marks the second time in less than three months that the bank has adjusted its Bitcoin forecast. Kendrick also suggested that Bitcoin might experience a dip to approximately $50,000, presenting a potential 'buy zone' for investors focused on long-term gains.
Ethereum's end-of-2026 forecast was also lowered by Standard Chartered, dropping from $7,500 to $4,000, with a potential near-term fall to $1,400 before a recovery. Solana's 2026 target was adjusted from $250 to $135. These revisions come amidst a period where XRP has struggled to maintain upward momentum despite recent inflows, contrasting with the broader market's outflows. Data from CoinShares indicated that digital asset investment products experienced net outflows of $173 million last week, with Bitcoin accounting for $133 million. In stark contrast, XRP recorded $33.4 million in inflows, highlighting its relative resilience.
Despite the cautious near-term outlook, Standard Chartered's long-term predictions remain robust. The bank upholds its 2030 forecast for Bitcoin at $500,000, Ethereum at $40,000, XRP at $28, and Solana at $2,000. These long-term projections align with other financial institutions; for instance, VanEck projects Bitcoin could reach $2.9 million by 2050 in its base case, and Bernstein reiterates a $150,000 Bitcoin target by the end of 2026. Market analysts at Matrixport suggest that while near-term price drops are possible, current market conditions, characterized by exhausted selling pressure and stabilizing indicators, might signal an approaching inflection point.
This re-evaluation by Standard Chartered offers a critical perspective on the evolving cryptocurrency landscape. While short-term volatility and market sentiment require careful navigation, the enduring long-term potential of digital assets continues to be recognized by significant financial players. Investors might find value in considering these revised short-term expectations alongside the consistent long-term growth projections, particularly in light of signals suggesting market stabilization. The strategic approach to cryptocurrency investment, therefore, appears to favor resilience and a long-term vision, even as immediate challenges persist.
