Crypto Price Prediction Today 17 October – Xrp, Pi Coin, Shiba Inu

What Happened

Yet heavy losses create the conditions for big rebounds, while one new token in particular is gaining lots of momentum as it prepares to launch.

Its short-term fortunes could also improve significantly as and when the first XRP ETFs begin launching, something which could drive institutional investment into XRP.

Market Context

Markets worldwide have slid on U.S. regional bank fears, negatively impacting the short-term crypto price prediction for XRP, Pi Coin, and Shiba Inu.

Crypto Price Prediction: XRP ($XRP) – More Short-Term Pain, But Long-Term Highs Coming

But as noted above, today’s selloff has followed from wider fears surrounding the global economy, including U.S. regional banks and concerns that the AI market may be a bubble waiting to burst.

However, given Ripple’s recent growth and XRP’s fundamental strength, an improvement in market conditions could see it bounce back up very quickly.

Crypto Price Prediction: Pi Network ($PI) – Alarm Bells Ring as Altcoin Struggles to Escape Downward Spiral

There have been instances over the past few months where it has briefly looked like it was recovering, but its price ends up barely breaking even before falling to a new low.

While a big exchange listing could send it flying upwards (e.g., back towards $1 and above), the absence of such listings could see it continue to drop further, especially if the market remains in a funk.

Crypto Price Prediction: Shiba Inu ($SHIB) – Oversold Position Means Token May Rebound Heavily by December

Why It Matters

If these levels are breached, we could even see a dive towards $1.80 or $1.60 in the short- or medium-term.

It could reach $3 again by the end of November, before ending the year close to $5.

And its chart today highlights how it has been on a consistent decline since May, with its indicators struggling to bounce from oversold positions.

Few coins in the top 100 have a chart like this, with indicators like this, and the reason may be that PI is in serious trouble.

Details

These three altcoins have all suffered heavy losses in the past 24 hours, with all three also posting double-digit declines in the past week.

XRP has posted a big 7% loss today, dropping down to $2.21 and confirming a 21% decline in a week.

Put differently, XRP’s fundamental position remains largely unchanged, and in this respect, it remains encouraging to note that the altcoin is still up by 300% in a year.

If we look at its chart today, we see that its indicators have more or less hit rock bottom.

It will be interesting to see whether XRP’s $2.20 support can hold up, and if it can’t, whether the $2.00 level can hold up afterwards.

PI has dropped by 5% in the past 24 hours, with its fall to $0.198 also marking a 17% loss in seven days and a 44% decline in 30 days.

This is concerning, but what’s more concerning is that PI has also fallen by a whopping 93% since hitting an all-time high of $2.99 in late February.

This is symptomatic of a long-term, possibly terminal decline, and so far efforts to provide Pi Network with more utility – such as its $100 million venture fund – have done little to win over doubters.

Pi has faced critics from its inception, and unfortunately, it has been unable to attract listings from major exchanges, such as Binance, Coinbase, Kraken, and numerous others.

At $0.000009558, SHIB has dropped by 7% in a day, 20% in a week, and by 27% in a month, while it’s also down by 47% in the past year.