The cryptocurrency market is experiencing another sharp downturn, with several major digital assets seeing significant losses. Ripple’s XRP has fallen to its lowest point since late 2024, while Cardano’s ADA has fared even worse.
Meanwhile, the Pi Network team has issued key announcements, hinting at major updates expected later this week.
XRP Faces Critical Market Juncture
Ripple’s cross-border token has shed another 21% of its value over the past month. Several hours ago, it plummeted to just above the psychologically significant $1 mark.
Analyst CasiTrades, using the X platform, identified key support levels should bearish sentiment persist. She suggested $0.93 as a potential buying opportunity and $0.87 as a primary target. The analyst further posited that XRP is at its “most critical moment in the market cycle.”
“Correction is approaching its final level. The fear will be LOUD! People will likely start calling for lower and lower prices as the level is reached. They’ll tell you the market is going to zero. But don’t let someone else’s fear cause you to miss your own opportunity. Every major trend begins when sentiment is at its worst. The correction is doing exactly what it should. This is a perfect market structure,” she stated.
Another X user, Gerla, offered a similar outlook, claiming XRP is nearing the end of a seven-year wedge pattern and predicting that “the next move could be the biggest one in years.”
Pi Network Teases Major Updates for Pi2Day
The Pi Network’s Core Team has been actively releasing protocol updates and ecosystem advancements. The community, however, is anticipating more significant announcements that could potentially drive a price rally for PI. Attention is now focused on Pi2Day, a symbolic date celebrated annually on June 28.
Earlier this week, Pi Network amplified speculation by referencing last year’s Pi2Day event, which featured the launch of Pi App Studio, Directory Staking, and node updates, among other releases.
“Stay tuned on June 28 for what’s to come,” the team teased.
The team also reminded users that June 28 serves as the final deadline for the Vibe Coder campaign, an initiative aimed at integrating AI-powered applications into the project’s distribution network via Pi App Studio. Furthermore, June 28 will mark the conclusion of the Pi Launchpad testing period, which includes the debut of the SLICE test token.
Cardano’s ADA Struggles Amidst Broader Market Weakness
Cardano’s ADA has fallen out of crypto’s top 20. Earlier today, its price briefly dipped below $0.14 for the first time since 2020. Contributing factors to its decline include the broader market collapse, concerning comments from Charles Hoskinson, and an exploit within the Cardano ecosystem project SecondFi.
Popular analyst Ali Martinez noted that Cardano’s ADA TD Sequential indicator has flashed a buy signal, potentially indicating a resurgence to as high as $0.176. However, he cautioned that this revival might be short-lived and could be followed by another downward movement.
“While this indicator signals a near-term bounce, the broader market structure suggests caution. This localized push may act as a trap to lure in buyers before hitting immediate resistance and continuing lower,” Martinez advised.
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