Recent Pi Network (PI) Updates, Ripple (XRP) Price Targets, and More: Bits Recap Jan 23rd

Pi Network (PI), Ripple (XRP), and Ethereum (ETH) have posted substantial price declines over the past week, driven by global geopolitical tensions surrounding Trump’s intentions to annex Greenland. In the following lines, we will touch upon everything most interesting and important involving these cryptocurrencies.

Pi Network’s Latest Update

Earlier this week, Pi Network’s 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 technical expertise or coding. However, they are still limited to the test version only.

The team also launched a new option that enables Pioneers to deploy app iterations without paying Pi by watching ads. Additionally, it urged all users to share feedback and mention their favorite applications via a short survey. The first 1,000 qualified participants will receive 5 Pi token credits usable within the Pi App Studio.

The announcement triggered a brief price uptick for PI, which was quickly followed by a renewed downtrend. Currently, PI trades at around $0.18 (per CoinGecko’s data), representing a 10% drop on a weekly scale.

The consistent price decline and the project’s flaws have caused many community members to lose trust in Pi Network and become pessimistic about the future. Recently, X user open mainnet advised the team to incorporate key features, such as peer-to-peer lending, staking 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 headed south recently, further strengthening the bears’ current reign. Several hours ago, the popular analyst Ali Martinez outlined three key price levels to watch: resistance at $1.97 and $2, and support at $1.78. XRP currently trades at around $1.91, suggesting that the probability of a dip below $1.80 has increased.

On the other hand, the amount of XRP tokens stored on Binance continues to decline. As CryptoPotato recently reported, the supply has fallen to around 5.55 billion coins, indicating that more investors are abandoning the platform and shifting to self-custody. This is interpreted as a bullish factor since it reduces the immediate selling pressure.

Meanwhile, crypto X remains rammed with optimists. DrBullZeus, for instance, believes XRP will be “the biggest altcoin play in the market at some stage.” The analyst noted the formation of a classic “cup and handle pattern,” which points to a potential price explosion to $5.

ETH is Back Under $3K

The second-largest cryptocurrency had an impressive start to the year, with its valuation rising to almost $3,400 by mid-January. Since then, though, it has entered a major correction and currently trades at approximately $2,900. According to X user Kamran Asghar, ETH “played off the OTE selling area at $3,400,” claiming an additional plunge to $2,600 could be in the cards.

Ted is also pessimistic after arguing that the uptrend support has been lost. He thinks a sweep of the $2,800-$2,850 support level before the next rally seems “highly likely” for Ethereum.

The post Recent Pi Network (PI) Updates, Ripple (XRP) Price Targets, and More: Bits Recap Jan 23rd appeared first on CryptoPotato.