Pi Network price has crashed over the past few weeks, erasing some of the gains made after its mainnet launch in February.

Pi Network (PI) has dropped to $1.13, down from an all-time high of $3, bringing its market cap to $7.73 billion from an all-time high of nearly $20 billion. This article explores the top four catalysts that may push the Pi coin to $10 in the long term.

Crypto market rally

A crypto market rally is the most important catalyst that may push the Pi coin price to $10. Such a rally would happen if Bitcoin rebounds from the current correction and surges above its all-time high.

Altcoins have historically performed well when Bitcoin is in a strong uptrend. This surge is usually driven by increased demand from investors and a rise in the crypto fear and greed index.

Potential catalysts for the next crypto market rally include a dovish Federal Reserve, greater regulatory clarity, and more ETF approvals.

Pi Network burn mechanism

Another potential catalyst for Pi Network’s price is a token burn mechanism. A burn refers to a situation where tokens are moved into an inaccessible wallet, reducing supply and helping to control inflation.

Token burns could help offset the ongoing unlocks. Over 188 million Pi coins will be unlocked this month, with another 1.6 billion expected over the next 12 months. More token unlocks will happen in the future since only 6.84 billion are currently in circulation out of a total supply of 100 billion.

Pi Network has various ways of burning tokens. It can burn tokens from users who have not migrated them to the mainnet. It can also burn fees generated from its ecosystem, and the Pi Foundation can voluntarily burn some of its tokens.

Potental Pi coin ETF appoval

Another potential catalyst that could push Pi Network’s price to $10 is a spot ETF application and approval by the Securities and Exchange Commission. Pi meets most of the conditions needed for approval.

It is a larger cryptocurrency than others that have received ETF applications, such as Sui (SUI), Litecoin (LTC), and Polkadot (DOT). It is also more liquid than some of these coins since its daily volume is often over $1 billion. 

Pi Network is also a proof-of-work cryptocurrency, meaning that its technology is similar to that of Bitcoin (BTC) and Ethereum. 

Exchange listings would benefit Pi Network price

Another key catalyst for Pi Network is potential exchange listings by major platforms like Coinbase, Binance, Upbit, and Kraken. It would also benefit from listings on decentralized exchanges like Uniswap and Raydium through a wrapped version of the token.

A Binance listing would expose it to over 200 million global customers. A Coinbase and Kraken listing would broaden its reach among American customers, while Upbit would open access to South Korean traders.

Bubblemaps’ token, BMT crypto, has gone up by nearly 30% following its debut on Binance. Just a day prior, the token reached a new all-time high.

According to data from CoinGecko, the BubbleMaps token has gone up by 28.8% only a day after it was listed on Binance. Less than 24 hours ago, the token reached new heights when it bounded up by nearly 45% to a new all-time high of $0.3173.

At press time, the token is trading hands at $0.24 with a market cap of $62 million. Meanwhile, BMT crypto’s fully diluted valuation stands at $242 million.

According to the official announcement, Binance listed BMT crypto on its platform on March 18 at 15:00 UTC and opened trading for BMT paired with major tokens including USDT (USDT), USDC (USDC), BNB (BNB), FDUSD (FDUSD), and TRY. However, the crypto exchange warned users that it will applying the seed tag, considering the token is still fairly new to the market.

Despite having just listed on the crypto exchange yesterday, Binance has already claimed the top spot on Bubblemaps’ trading markets, contributing the largest share of the token’s trading volume at 23.47%. In the past 24 hours, as much as $131 million worth of BMT crypto has been processed on Binance.

In fact, Bubblemaps trading volume skyrocketed by 442.8% to a total of $562 million in the past 24 hours. This means that the token has experienced a significant rise in market activity since its Binance listing.

Launched on March 11, BMT is the native token for Bubblemaps. Bubblemaps is an on-chain analytics platform that provides users with blockchain data visualization for token analytics and NFT owenrship. BMT serves as its governance utility token, granting holders access to advanced analytical features on the platform.

During Bubblemaps’ token generation event for BMT, it received an overwhelming number of subscriptions, around 202,990 BNB, which is13,500% more than the project’s initial target.

XRP price has tumbled 8% over the weekend, hitting $2.3 at press time on March 16. As Ripple advances its legal battle and files new trademarks, how will XRP markets react in the week ahead?

Ripple (XRP) Tumbles 8% to End 4-Day Winning Streak

Ripple (XRP) emerged as one of the top-performing assets last week, fueled by renewed optimism in Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).

On Thursday, FOX analysts reported that the SEC is considering classifying XRP as a commodity as part of ongoing settlement negotiations to conclude the long-running case against Ripple. The SEC is reportedly using Ethereum’s current regulatory treatment as a benchmark in its deliberations.

If this reclassification materialises, it could significantly enhance XRP’s prospects for ETF approval and potential inclusion in a strategic crypto reserve. However, after four consecutive days of green candles for Ripple price, driven by the SEC reclassification speculations, another major regulatory headline appears to have cut the XRP price rally short.

Why Is XRP Price Going Down Today?

After a four-day winning streak fueled by speculation that the SEC may classify XRP as a commodity, another major SEC announcement appears to have halted the rally.

On Friday, March 14, the SEC announced its decision to pause the approval process for altcoin ETFs, triggering a downturn in the prices of top altcoins over the weekend, particularly those with ETF filings in progress.

This development partly explains why XRP’s price has now plunged 8%, dropping from its Friday peak of $2.49 to $2.29 as of March 16.

Derivatives Market Analysis Flashing Early Rebound Signals

Despite the recent price dip, XRP’s derivatives market metrics indicate that bullish sentiment may still be in play. First, the latest Coinglass data shows, XRP’s trading volume has increased by 12.11%, reaching $6.05 billion. This suggests that despite the price pullback, there is still significant market activity.

Also, the 24-hour liquidation data (Rekt) stands at $11.58 million, with $8.98 million in long positions and $2.60 million in short positions. This suggests that while longs took losses amid the weekend drop, short sellers are now at risk of a squeeze if the price stabilizes.

XRP’s open interest has dropped by 6.70% to $3.14 billion, indicating that leveraged positions are unwinding. This could signal the end of the current correction, setting the stage for a fresh uptrend if demand picks up.

With strong derivatives volume and long positions outweighing shorts, the market appears to be positioning for a rebound. If broader sentiment improves and regulatory fears subside, XRP could regain momentum in the coming days.

3 Key Events XRP Traders Must Watch in the Week Ahead

XRP’s correction phase appears temporary, with derivatives market indicators pointing to sustained bullish momentum. Here are key factors influencing price movements this week:

1. Ripple Files Trademark for New Crypto Wallet Application

According to recent media posts, Ripple has reportedly filed for a trademark under the name “RIPPLE CUSTODY,” which hints at a potential new product focused on crypto storage solutions.

This development could drive fresh investor interest in the week ahead. For optimistic market watchers, Ripple is now in pole position to leverage international partnerships, and friendlier regulators to ship fresh innovative products that had been hampered during years of long litigation.

2. U.S. Federal Reserve Decision on February 19

The upcoming Fed meeting will play a crucial role in shaping broader market sentiment. Any hints of dovish monetary policy could spark increased risk appetite, potentially benefiting XRP and other digital assets.

3. SEC Pauses Altcoin ETF Approvals, but Market Watches for Further Developments

The SEC has temporarily halted decisions on altcoin ETF applications, but industry analysts expect continued discussions. Strategic investors will keenly watch out for Soundbites, and insights from key ETF sponsors in the coming weeks.

XRP Price Forecast: Bulls Eye $2.80 Rebound

XRP price forecast suggests a broader crypto market recovery is underway, setting the stage for XRP’s next move. The XRP/USDT daily chart presents a mix of consolidation and volatility, but key technical indicators hint at a potential rebound. The Keltner Channel (KC) midline at $2.35 is acting as immediate resistance, and a breakout above this level could open the door toward the upper KC band near $2.77.

The Relative Strength Index (RSI) at 47.49 sits in neutral territory, signaling neither overbought nor oversold conditions. However, its recent bounce from 40 suggests growing bullish momentum. A sustained RSI climb above 50 would reinforce the case for continued upside.

Despite the recent 8.38% dip in a single session, volume data shows a healthy recovery, with prior bullish days recording over 1.25 billion in volume—a sign that buyers remain engaged. If XRP can maintain support near $2.30, the bulls could regain control, driving prices toward $2.50 in the short term and $2.80 in extension.

On the flip side, failure to hold $2.30 could invite deeper retracements, potentially testing the lower KC band near $1.92. However, given XRP’s resilience in recent sessions, the momentum currently favors a bullish scenario

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ibrahim

Crypto analyst covering derivatives markets, macro trends, technical analysis, and DeFi. His works feature in-depth market insights, price forecasts, and institutional-grade research on digital assets.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.