The controversial crypto project Pi Network recently made its first investment in the AI world, Ripple’s XRP remains the subject of interesting price predictions, while Ethereum (ETH) could be on the verge of a rally.
Diving Into the AI Frenzy
Earlier this week, Pi Network Ventures partnered with OpenMind (a company that develops an operating system for robots). The collaboration marks the first investment by the crypto project in the AI sector, aiming to enhance the utility of PI and bring the token into real-world use cases.
Additionally, the two entities have teamed up on a completed proof-of-concept project where volunteer Pi Node operators run image recognition AI models for OpenMind.
Other developments related to Pi Network include the renewed rumors that it has joined the ISO 20022 race and the official activation of the Testnet2 v23. These advancements could explain why PI’s price has been among the top-performing cryptocurrencies for the past week. As of this writing, it trades at just under $0.25, representing a 20% increase on a seven-day scale but a 4% decline over the last 24 hours.
XRP Targets
Currently, Ripple’s cross-border token is worth around $2.50, or a 12% surge for the past two weeks. Some of the factors potentially contributing to that increase are the company’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 company spent $1 billion to acquire the software provider GTreasury.
Multiple analysts believe that XRP has much more room for growth. According to EGRAG CRYPTO’s “10% Theory,” the asset’s price may explode to $5.50-$6. XForceGlobal was even more optimistic, describing a rally above $10 as “a conservative target.”
ETH Pump on the Way?
The second-largest cryptocurrency was among the worst-affected digital assets during the latest market correction, with its price briefly plummeting below $3,700. The bulls, though, reclaimed some of the lost ground, and now the valuation stands at well above $3,800.
Several optimistic factors, such as the reduced amount of ETH tokens stored on exchanges, suggest that a more substantial rally could be on the horizon. Recently, X user Ali Martinez disclosed that 200,000 coins have been shifted from centralized platforms to self-custody methods in just 48 hours, which reduces immediate selling pressure.
Shortly after, however, he made a vital clarification, stating that 230,000 ETH tokens had been moved by large holders (likely exchanges) in the past week. This may include deposits, withdrawals, or internal transfers and is not necessarily a bullish signal.
The post Pi Network’s (PI) Latest Endeavors, Ripple (XRP) Price Predictions, and More: Bits Recap Oct 31 appeared first on CryptoPotato.
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