XRP & PI Coin Price Analysis!!!
XRP and PI both went up by 8.5% and 6.5%, respectively, due to growing hopes for XRP's ETF and progress in the Pi Network's mainnet.
The crypto market is showing signs of recovery, with XRP up 8.83% and PI gaining 6.5% on Wednesday, while Bitcoin is moving closer to 95,000.
Some of the renewed interest in XRP might come from comments by Teucrium CEO Sal Gilbertie, who talked to Bloomberg about its real-world uses. He called XRP a coin with the "most utility," unlike Bitcoin, which he sees as more of a store of value. However, he did not explain what "most utility" means but praised the Ripple team, saying they act “like investment bankers.”
Gilbertie's comments come as his company prepares to launch a 2X Leveraged XRP ETF, which might explain why he praised XRP now. It’s hard to tell how much his comments affected the price, but they support the idea that XRP has potential beyond just trading.
Meanwhile, Pi Network's token is moving forward with its open mainnet, which adds to the optimism. So far, over 12 million users have migrated. As a result, the price of PI jumped 6%.
Bitcoin has also broken above the Short-Term Holder realized price, which is important for market sentiment. If Bitcoin stays above this level, it could boost confidence and lead to more gains. Glassnode analysts highlighted this on social media, noting that this level is often used as a market sentiment benchmark.