The team at Pi Network has introduced another update, while XRP and ETH have fallen below key levels.
The latest update from Pi Network
Earlier this week, the Pi Network core team introduced Pi payment integration directly within the Pi App Studio. The development is especially important for non-technical users as it allows them to build on the ecosystem without any technical expertise or coding. However, they are still limited to the test version only.
The team also launched a new option that allows Pioneers to deploy app iterations without paying Pi by watching ads. Furthermore, it urged all users to share feedback and mention their favorite applications through a short survey. The first 1,000 qualified participants will receive 5 Pi token credits usable in the Pi App Studio.
The announcement caused a brief price surge for PI, which was quickly followed by a new downtrend. Currently, PI is trading at around $0.18 (according to CoinGecko data), which represents a decline of 10% on a weekly scale.
The continued price drop and the project’s shortcomings have caused many community members to lose confidence in Pi Network and become pessimistic about its future. Recently, X user open mainnet advised the team to include key features such as peer-to-peer lending, wagering rewards, and decentralized exchanges into the application that should accelerate real-world adoption.
What’s next for XRP?
Ripple’s cross-border token has also moved south lately, further strengthening the bears’ current dominance. A few hours ago, popular analyst Ali Martinez outlined three key price levels to watch: resistance at $1.97 and $2, and support at $1.78. XRP is currently trading around $1.91, indicating that the chances of a dip below $1.80 have increased.
On the other hand, the number of XRP tokens stored on Binance continues to decrease. If CryptoPotato Recently reported, the supply has dropped to around 5.55 billion coins, indicating that more and more investors are leaving the platform and moving to self-custody. This is interpreted as a bullish factor as it reduces immediate selling pressure.
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Meanwhile, crypto DrBullZeus for example, believes XRP will “at some point be the biggest altcoin play on the market.” The analyst noted the formation of a classic “cup and handle” pattern, indicating a potential price explosion to $5.
ETH is back below $3K
The second-largest cryptocurrency had an impressive start to the year, with its valuation rising to nearly $3,400 in mid-January. However, since then the stock has entered a major correction and is currently trading around $2,900. According to
Ted is also pessimistic afterwards argue that the upward support has been lost. He thinks a rise to the $2,800-$2,850 support level before the next rally seems “very likely” for Ethereum.
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