The market has rebounded after last week’s bank-related fears, with the crypto price prediction for XRP, Pi Coin and Ethereum much improved within the past 24 hours.
These three coins have recorded solid gains today, although they remain down for the week, having suffered as a result of weak sentiment.
Yet the market has oversold these coins for so long now that they could rebound strongly soon, while one new presale token is showing the potential for a big rally later in the year.
Crypto Price Prediction: XRP ($XRP) – ETFs Will Spark Major Rally from Oversold Position
XRP has risen by 6% in the past 24 hours, yet its current price of $2.46 marks a 6.5% loss in a week and an 18% decline in a month.
Despite these falls, XRP remains strong in the longer term, having booked a 350% increase in the past year, making it one of the best-performing top-100 coins over this period.
And once the wider market regains a more positive outlook, we can expect XRP to retain its status as one of crypto’s best performers.
It has the prospect of the launch of over ten XRP ETFs to look forwards to, while the ongoing growth of Ripple’s business will continue to boost demand and bullishness for the token.
Its chart today shows that it’s beginning to recover from the oversold position it has been in since late July.
Source: TradingViewIts relative strength index (yellow) has bounced up from 30 and looks strong enough to reach 50 and beyond, while its MACD (orange, blue) also appears to have bottomed out.
If XRP can manage to break through the $2.80-$3 resistance level in the next few weeks, we could see it launch a concerted climb towards $3.50 by the end of November.
And from there, the launch of XRP ETFs could push it up to $5 by the end of the year.
Crypto Price Prediction: Pi Network ($PI) – PI Continues Worrying Slide As Exchange Neglect Continues
Having managed a modest 1% gain today, PI is still wavering at the $0.2074 level, which amounts to a 5% loss in a week and a 41% decline in a month.
Worse still, the Pi Coin price is 93% down from its all-time high of $2.99, which it recorded back on February 26.
The altcoin has consistently fallen since reaching this record high, and there’s really no strong indication or evidence that it’s ever going to recover fully.
Its community has rolled out a number of improvements and initiatives, including a Linux version of its node, an app studio, and a $100 venture fund.
However, none of these developments have made a difference to PI’s momentum, which continues to wane.
Its chart today reflects its weakness, with its indicators having been in consistently oversold positions since the middle of May.
Source: TradingViewAnd there’s no obvious technical indication that things will improve soon, since a fundamentally sound asset would have rebounded by now.
But unfortunately for PI, it has always faced suspicion that it was a large-scale Ponzi scheme, with major exchanges such as Binance, Coinbase and Kraken refusing to list it.
As such, it’s not going to go anywhere unless it overcomes these perceptions and attracts some big exchange listings, which could see it recover to $1 and beyond in the medium- and long-term.
Crypto Price Prediction: Ethereum ($ETH) – Altcoin Aims for New Record Highs Amid L1 Dominance and Strategic Reserves
Ethereum has managed to regain the $4,000 level, putting up by 3% in the past 24 hours, even if it remains down by 11% in the last 14 days.
As with XRP, Ethereum is in such a strong position fundamentally that it will recover vigorously once the market becomes more positive.
It continues to dominate the crypto sector in terms of its size and utility, while ETH has attracted considerable institutional and corporate investment this year, with many companies announcing strategic Ethereum reserves.
This puts it in a great position to lead any incoming market-wide rallies, and today it looks as though it’s not far away from a positive turnaround.
Source: TradingViewAt the moment, Ethereum’s RSI is close to reaching 50, a key level from which it could rise higher, in tandem with the coin’s price.
Likewise, the altcoin’s MACD is close to bottoming out, and at this level it could begin attracting new buyers, who will be keen to buy ETH at a discount, while they still can.
In fact, whales are beginning to accumulate ETH again, so we could see ETH begin to make a climb towards $4,500.
And from there, it could end the year above $7,000.
PEPENODE Raises $1.8 Million As Excitement for Mine-to-Earn Token Heats Up: Next 100x Coin?
As strong as ETH and XRP are looking right now, traders may also want to diversify into newer tokens, since recently launched coins can often outpace the market.
This is something that can happen with presale coins, which in generating momentum during their sales can then rally hard once they list.
Arguably one of the best examples of a presale token is PEPENODE ($PEPENODE), which markets itself as crypto’s first mine-to-earn token. It has raised an impressive $1.8 million in its sale, which launched only last month.
As a mine-to-earn token, PEPENODE gives users the ability to develop and run their own virtual mining rigs. They can spend PEPENODE to buy more virtual nodes, and in turn more nodes will provide them with greater rewards, which it will pay out in other coins (e.g. Pepe and Fartcoin).
This gives PEPENODE the potential to be a very profitable coin, while the demand for the token (in order to buy more virtual nodes) could push its price up significantly over time. On top of this, holders will also be able to stake the token for a passive income.
While its sale doesn’t have long left, newcomers can join by going to the official PEPENODE website and connecting a compatible wallet (such as Best Wallet). The coin is currently selling at $0.0011094, although this will rise repeatedly for as long as the sale lasts.
Visit the Official Pepenode Website Here
The post Crypto Price Prediction Today, October 20 – XRP, Pi Coin, Ethereum appeared first on Cryptonews.
