Pi Network (PI), Ripple (XRP) and Cardano (ADA) Updates Upcoming Targets: Bit Summary November 19

TL;DR

The Pi Network is approaching its open network phase, with just one million KYC verifications to go before the November 30th deadline. Ripple’s XRP surged 83% in one week to a three-year high of $1.20, with analysts predicting near-term gains that could take it to $1.50 or even higher . Cardano’s ADA rose 130% in two weeks to $0.75, and experts predict further growth, supported by strong network fundamentals and no scheduled token unlocks. What’s new around the 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 main goal is to allow users to mine cryptocurrencies directly from their smartphones.

Despite being more than five years old, the Pi Network is still quite controversial, as its native token and open mainnet have yet to see the light of day.

In early 2024, the team stated that the launch of the open network will occur once 15 million people have completed the necessary Know Your Customer (KYC) procedures. Last week, Pi News (a social media channel that reveals updates around the project) revealed that only one million verifications are needed to reach the goal.

Clearing KYC procedures should happen by November 30, a deadline known as “the grace period.” Initially, people had until September 30 to do so, but the team later offered more time.

In the meantime, the community is looking forward to December, when the core Pi team is expected to give details on the open mainnet roadmap (which should allow official buying and selling of Pi tokens).

Solid performance of XRP

Ripple’s XRP has been the best performing cryptocurrency (from the top 20 list) in the last seven days. Its price has increased by 83% during this period, currently trading at $1.11 (according to data from CoinGecko). It also hit a three-year high of nearly $1.20 on November 16.

XRP Price, Source: CoinGecko

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

Before that, user X 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 high historic nearly $4.

ADA forecasts

Last but not least, we’ll touch on Cardano’s native token, which has also seen a substantial increase lately. At the time of writing, ADA is trading at roughly $0.75, which represents a 130% increase on a two-week scale.

ADA price, Source: CoinGecko

X FLASH and Lucid users expect the run to continue. The former believes that ADA is “approaching the next level” above $1, while the latter described several factors that suggest the asset is “on the verge of becoming interstellar” .

Some of these include Cardano’s high minimum attack vector (MAV) and the fact that there are no scheduled token unlocks (which increase the circulating supply and can cause price pullbacks).

We recently published a video with some of the main developments around Cardano. Check it out here:

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