Pi Network’s (PI) Latest Endeavors, Ripple (XRP) Price Predictions, and More: Bits Recap Oct 31

The controversial crypto mission Pi Network just lately made its first funding within the AI world, Ripple’s XRP stays the topic of attention-grabbing value predictions, whereas Ethereum (ETH) may very well be on the verge of a rally.

Diving Into the AI Frenzy

Earlier this week, Pi Network Ventures partnered with OpenMind (an organization that develops an working system for robots). The collaboration marks the primary funding by the crypto mission within the AI sector, aiming to boost the utility of PI and convey the token into real-world use circumstances.

Additionally, the 2 entities have teamed up on a accomplished proof-of-concept mission the place volunteer Pi Node operators run picture recognition AI fashions for OpenMind.

Other developments associated to Pi Network embody the renewed rumors that it has joined the ISO 20022 race and the official activation of the Testnet2 v23. These developments might clarify why PI’s value has been among the many top-performing cryptocurrencies for the previous week. As of this writing, it trades at slightly below $0.25, representing a 20% improve on a seven-day scale however a 4% decline over the past 24 hours.

XRP (*31*)

Currently, Ripple’s cross-border token is value round $2.50, or a 12% surge for the previous two weeks. Some of the components doubtlessly contributing to that improve are the corporate’s multi-billion-dollar acquisitions.

Recently, Ripple announced the official conclusion of the Hidden Road deal, which equals a whopping $1.25 billion. In addition, the corporate spent $1 billion to accumulate the software program supplier GTreasury.

Multiple analysts consider that XRP has way more room for progress. According to EGRAG CRYPTO’s “10% Theory,” the asset’s value could explode to $5.50-$6. XForceGlobal was much more optimistic, describing a rally above $10 as “a conservative goal.”

ETH Pump on the Way?

The second-largest cryptocurrency was among the many worst-affected digital belongings in the course of the newest market correction, with its value briefly plummeting beneath $3,700. The bulls, although, reclaimed among the misplaced floor, and now the valuation stands at nicely above $3,800.

Several optimistic components, such because the decreased quantity of ETH tokens saved on exchanges, recommend {that a} extra substantial rally may very well be on the horizon. Recently, X consumer Ali Martinez disclosed that 200,000 cash have been shifted from centralized platforms to self-custody strategies in simply 48 hours, which reduces fast promoting stress.

Shortly after, nonetheless, he made a significant clarification, stating that 230,000 ETH tokens had been moved by giant holders (probably exchanges) previously week. This could embody deposits, withdrawals, or inside transfers and will not be essentially a bullish sign.

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