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Sell alert: XRP price facing sharp correction to $1

The ongoing cryptocurrency market bloodbath might have cemented XRP’s bearish move, with the asset potentially staring at an almost 60% drop. The asset’s technical formations suggest that the recent attempt to move towards $3 might have been invalidated, with the next target at $1, considering XRP is forming a bearish head and shoulders pattern , according to crypto analyst Ali Martinez. In an X post on March 4, Martinez observed that the pattern has been forming since December 20, 2024, and the last 24 hours of market movement might have confirmed the shoulder formation. XRP price analysis chart. Source: TradingView/Ali_charts Notably, the pattern consists of three peaks: a higher peak (head) flanked by two lower peaks (left shoulder and right shoulder). In this line, the ‘neckline,’ identified at the $2 support level, serves as a critical threshold. If XRP sustains a break below this level, it could precipitate a significant downturn. For XRP, a sustained drop below $2 could trigger a 57% correction, bringing its price down to the $1 level, a scenario that would erase significant gains made in recent months. Before the recent crash, XRP was riding high after President Donald Trump announced its inclusion in the strategic cryptocurrency reserve alongside Bitcoin ( BTC ), Ethereum ( ETH ), Solana ( SOL ), and Cardano ( ADA ). While XRP enjoyed a short-term bullish wave, Martinez noted on March 3 that the asset had shown signs of invalidating the head and shoulders pattern. If this breakout had occurred, Martinez suggested XRP could have aimed for $3, possibly even hitting a new all-time high of $5. XRP whales on a buying spree Amid the volatility, XRP whales have maintained their optimism, accelerating their accumulation of the asset. According to March 4 data from onchain cryptocurrency analysis platform Santiment , these investors scooped up 1 billion XRP in just 24 hours—a move that often signals an upcoming price rally. XRP whale transaction chart. Source: Santiment/Ali_charts Meanwhile, pseudonymous analyst Captain Faibik shared an optimistic outlook, pointing to XRP’s daily chart. He highlighted a bullish pennant formation in a March 4 X post , suggesting a potential 100% rally. XRP price analysis chart. Source: TradingView/ CryptoCave The analyst explained that the tightening price range between descending resistance and ascending support often precedes a strong upward move. A break above the upper trendline could drive XRP up 80% to 100% in the midterm, targeting fresh highs. Beyond technicals, the ongoing Securities Exchange Commission ( SEC ) vs. Ripple case could shape XRP’s future. With the SEC recently dismissing cases against other crypto players such as Coinbase, many speculate the agency might opt for a dismissal or amicable resolution with Ripple—a development seen as a key driver for the token’s next big move. XRP price analysis By press time, XRP was trading at $2.36, a price it settled at after a massive 10% drop in the last 24 hours. Meanwhile, over the last seven days, the token has rallied more than 10%. XRP seven-day price chart. Source: Finbold The current XRP price suggests the asset is facing potential short-term losses, considering it is trading below its 50-day simple moving average ( SMA ) of $2.68. However, it remains above the 200-day SMA of $1.53, maintaining a bullish long-term trend. Featured image via Shutterstock The post Sell alert: XRP price facing sharp correction to $1 appeared first on Finbold . CoinOtag

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Recent Pi Network (PI) Developments, Cardano (ADA) Price Volatility, and More: Bits Recap March 4

TL;DR The Open Network launch allowed PI token listings, but many users still need to pass KYC procedures. The deadline moved to March 14, sparking mixed reactions. Cardano (ADA) hit $1.14 after Trump backed a crypto reserve but dropped to $0.81 due to market crashes after certain trade tariffs came into effect. Bitcoin (BTC) fell to $83,500 from nearly $95,000. Analysts debate if this is a brief correction or the bull run’s end, with key support at $75,700. What’s New Around Pi Network? The cryptocurrency project reached a major milestone on February 20 when it launched its Open Network. This allowed exchanges to list the PI token and make it publicly accessible. Nonetheless, Pi Network is far from solving all of its problems. For instance, many people have not completed the necessary Know-Your-Customer (KYC) verifications and mainnet migrations. Users had until February 28 to abide by the rules, but recently, the deadline was moved to March 14. “This extension especially helps Pioneers who have recently returned and want to reengage with the network now that Open Network is live, upholding Pi’s core objectives of inclusivity and fairness. Submit your KYC application and complete your Mainnet Checklist by 8:00 am UTC on March 14, 2025 , to avoid any forfeiture,” the disclosure reads. As usual, the community reacted to the news with mixed feelings. Some appreciated the extension so they could have additional time to complete the process, while others complained about the prolongation, describing the project as a scam. ADA’s Price Swings The cryptocurrency market experienced massive volatility in the past few days, with Cardano’s native token being among the most impacted. Its price skyrocketed to as high as $1.14 on March 3 after the US president Donald Trump confirmed the plans about the establishment of a strategic crypto reserve that will include ADA and other digital assets. ADA Price, Source: CoinGecko Over the past several hours, though, the token erased much of its gains and currently trades at around $0.81 (per CoinGecko’s data). This is a consequence of the crypto market crash, which wiped out hundreds of billions of dollars in the last 24 hours. Some of the potential factors contributing to the negative performance of the sector are Trump’s trade tariffs which came into effect on March 4 and the escalating geopolitical tension between Ukraine and the USA. As reported by BBC, the world’s largest economy paused its military aid to the European country “to ensure that it is contributing to a solution.” BTC Struggles, too The primary cryptocurrency has also nosedived, witnessing a 9% decline on a 24-hour scale. It currently hovers at roughly $83,500, which is a huge pullback from the local top of almost $95,000 witnessed at the start of the business week. BTC Price, Source: CoinGecko While some industry participants believe the latest plunge might mark the end of the bull run, others remain optimistic that the asset is poised for a comeback. X user Captain Faibik suggested that BTC continues to trade within a “rising wedge” on the weekly timeframe. The analyst claimed that the price could reach $120,000 in the following months as long as it remains above the $75,700 support level. On the other hand, a fall below that range could lead to a retest of the $54,000-$55,000 zone. The post Recent Pi Network (PI) Developments, Cardano (ADA) Price Volatility, and More: Bits Recap March 4 appeared first on CryptoPotato . CoinOtag