I think it would be an exaggeration to say that there's anything "wrong" with XML, but there's a reason JSON has by far overtaken it outside of "enterprise" applications.
That said, in some ways XML is preferable for standards - particularly in that there's a standard way to publish a document type specification, and widely available tools for validating a document against such specifications. The somewhat experimental equivalents for JSON haven't really ever caught on.
Verbose might be a real issue because it takes more bytes to send the same message. But then if you care about bytes, I think protobuf is worth considering instead of both JSON and XML.
And no, XML is just as much a standard (in fact, a better defined one as a formal standard), and is still very much the default in most enterprise applications. JSON being more common in startup land doesn't make XML not a standard.