Pi Network (PI), Ripple (XRP) prices explode for a big move and more: Recap bits March 13

XRP and SHIB are in the green on the weekly scale, although they have made smaller gains compared to the best performing PI.

The Pi network and its native cryptocurrency have been the talk of the town lately after announcing a series of major upgrades, while the price of Pi rose to a five-month high.

Ripple’s XRP appears to be poised for a big move, while Shiba Inu (SHIB) is nearing the breaking point that has historically led to explosive gains.

Impressive return of PI

After months of long downtrend, PI has finally posted a clear resurgence with its value rising to around $0.30. This is the highest point since the end of October last year and represents a 100% month-on-month increase.

Some of the catalysts that push the price up include the latest updates released by the project team. Earlier this month, the v19.9 protocol port was successfully completed, while the next version, v20.2, was scheduled for March 12.

In addition, one of the largest cryptocurrency exchanges, Kraken, has allowed trading services with PI. The support of such a major usually has a positive effect on the valuation, as it leads to increased liquidity, improved access and a stronger reputation.

The public now focuses on March 14 – a date known as Pi Day due to its symbolic resemblance to the mathematical constant π (3.14). Last year, the team announced ecosystem updates, raising the question of whether we’ll see something similar tomorrow.

While the PI price rally over the past few weeks is undeniable, the Relative Strength Index (RSI) indicates that it is time for a correction. The ratio has crossed 70, which indicates that the token is overbought and could go south in the short term.

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Where next for XRP?

Ripple’s native token has also risen over the past seven days, albeit much less than PI. Currently, it is around $1.43 (per CoinGecko), which represents a weekly increase of 2%.

Recently, well-known analyst Ali Martinez noted that XRP’s Bollinger Bands have been compressed due to relatively minor volatility. Historically, such developments have followed major market moves, although the direction—a strong rally or a sharp decline—remains unclear.

Earlier today, the same person described a very bullish prediction, implying that XRP would explode to a ridiculous (at least for now) $48 during the next bull run. Before that, analysts like TradingShot predicted that the price could fall below $1 in the near future.

SHIB in motion

The second largest coin gained 10% in the past week and is currently worth about $0.000006161 (per CoinGecko). Just a few days ago, X user JAVON MARKS analyzed Shiba Inu activity and concluded that it was similar to the breaking point of another Falling Wedge structure. According to the market watcher, the last move of such a pattern was before the shocking explosion of 455% of the price.

The gradual decrease in the number of SHIB tokens held on crypto exchanges supports the bullish outlook. CryptoQuant data shows that this number recently fell to a five-year low, suggesting that investors are continuing to move their assets away from centralized platforms to decentralized methods. This generally reduces the pressure to sell immediately.