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

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As a seasoned researcher with over two decades of experience in the ever-evolving world of cryptocurrencies, I find myself intrigued by the recent developments in Pi Network, Ripple’s XRP, and Cardano’s ADA.

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?

The Pi Network began operation on March 14, 2019, which is also known as “Pi Day” (3/14). This timing fits perfectly with the project’s name and mathematical theme. Essentially, it aims to enable users to mine digital currencies right from their mobile devices.

As a crypto investor, I’ve been following Pi Network for over five years now, but it continues to stir up controversy. Unfortunately, its native token and main network are still nowhere to be seen.

Initially in 2024, it was stated that the Open Network launch would take place once 15 million individuals had completed Know-Your-Customer (KYC) protocols. However, recent updates from Pi News, a platform providing project updates, indicate that just one million verifications are needed to meet the target.

It is important to complete Know Your Customer (KYC) processes by November 30, which is referred to as “the Grace Period.” Previously, this had to be done by September 30, but the team extended the deadline due to requests for additional time.

In the meantime, the community is anxiously anticipating December, as this is when the Pi Core Team plans to disclose more information about their mainnet open roadmap, which could enable the formal trading of Pi tokens.

XRP’s Solid Performance

In the last seven days, Ripple’s XRP has been the standout performer among the top 20 cryptocurrencies. Its price surge has amounted to an impressive 83% increase, with its current trading value at $1.11 as reported by CoinGecko. Furthermore, it hit a three-year high of nearly $1.20 on November 16.

As a researcher, I’ve been closely observing the market trends for Crypto X and have noticed an optimistic outlook among analysts. Personally, Dark Defender has set a “golden target” of over $13 for this asset, while Crypto King is projecting a more conservative surge towards $1.50 in the short term.

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

Additionally, let’s discuss Cardano’s native token, which has seen a significant surge recently. At the moment of writing this, ADA is trading around $0.75, marking a 130% growth over a two-week period.

Some X users, including FLASH and Lucid, anticipate the bull run will persist. The first user believes that ADA is getting close to a new level surpassing $1, while the second user has pointed out several indicators suggesting that the asset is on the verge of reaching unprecedented heights, or as they put it, “on its way to Interstellar.

Among these points, you’ll find Cardano’s robust Minimum Attack Vulnerability (MAV), along with the absence of planned token releases. The latter prevents an expansion in the circulating supply, which might otherwise result in a potential decrease in price.

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

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2024-11-19 12:34