Pi Network (PI) Updates, Ripple (XRP) and Cardano (ADA) Next Targets: Bits Recap Nov 19

TL;DR

• Pi Network is nearing its Open Network phase, with only one million KYC verifications remaining before the November 30 deadline.
• Ripple’s XRP surged 83% in a week, hitting a three-year high of $1.20, with analysts forecasting short-term gains potentially pushing it to $1.50 or even higher.
• Cardano’s ADA climbed 130% in two weeks to $0.75, with experts predicting further growth, supported by strong network fundamentals and no scheduled token unlocks.

What’s New Around Pi Network?

Pi Network officially launched on March 14, 2019, a date that coincides with “Pi Day” (3/14), aligning with the project’s name and mathematical inspiration. Its primary goal is to allow users to mine cryptocurrencies directly from their smartphones.

Despite being around for over five years, Pi Network remains quite controversial since its native token and open mainnet have yet to see the light of day. 

Earlier in 2024, the team claimed that the launch of the Open Network will happen once 15 million people had completed necessary Know-Your-Customer (KYC) procedures. Last week, Pi News (a social media channel that discloses updates surrounding the project) revealed that reaching the target requires only one million verifications. 

Passing KYC procedures should occur before November 30, a deadline known as “the Grace Period.” Initially, people had until September 30 to do so, but the team later provided more time.

Meanwhile, the community is eagerly waiting for December, when the Pi Core Team is expected to shed details on the mainnet open roadmap (which should allow the official buying and selling of Pi tokens).

XRP’s Solid Performance

Ripple’s XRP has been the best-performing cryptocurrency (from the top 20 list) in the past seven days. Its price is up 83% for that period, currently trading at $1.11 (per CoinGecko’s data). What’s more, it reached a three-year high of almost $1.20 on November 16.

Crypto X is full of analysts predicting further gains for the asset in the short term. Dark Defender set a “golden target” of over $13, while Crypto King was more modest, forecasting a surge to $1.50. 

Prior to that, X user CryptoBull described the $1.28 level as the most important barrier in the near future, speculating that the next target could be $1.96 and eventually a new all-time high of almost $4.

ADA Forecasts

Last but not least, we will touch upon Cardano’s native token, which has also recorded a substantial increase lately. As of writing these lines, ADA trades at approximately $0.75, representing a 130% rise on a two-week scale. 

The X users FLASH and Lucid expect the bull run to continue. The former believes ADA is “approaching next level” above $1, while the latter outlined several factors suggesting that the asset is “about to go Interstellar.” 

Some of those include Cardano’s high Minimum Attack Vector (MAV) and the fact that there are no scheduled token unlocks (which increase the circulating supply and could lead to a price retreat).

We’ve recently released a video with some of the major developments surrounding Cardano. Have a look here: