Cryptocurrencies Price Prediction: PI, Ripple & Cardano – Asian Wrap 29 October

Pi Network Price Forecast: PI risks another lower leg as the broader crypto market slips

Pi Network (PI) is trading in the red on Thursday, retreating toward a near-term support around $0.0740. The Fear and Greed Index declines to 43 on Thursday, while total liquidations exceed $350 million over the last 24 hours, suggesting a deterioration in investors' risk appetite and a sell-side bias. The technical outlook for PI is bearish, with selling pressure building.

Ripple and Stellar outlook: XRP and XLM lose ground as hawkish Fed tone weighs

Ripple (XRP) and Stellar (XLM) remain under pressure on Thursday as bearish derivatives positioning and on-chain signals weigh on sentiment. XRP slides toward key support at $1.30, while XLM gives back some of its recent gains. Meanwhile, the Federal Reserve (Fed) held interest rates unchanged at 3.75%-4.00% at its two-day October policy meeting. However, the cautious hold, with a hawkish undertone and inflation concerns, adds to a cautious market backdrop and weighs on risky assets such as XRP and XLM.

Cardano Price Forecast: ADA extends bearish reversal as sell-side pressure intensifies

Cardano (ADA) faces intense selling pressure, with over 4% losses so far on Thursday, pushing the price below $0.2000. The sell-off aligns with the broader cryptocurrency market pullback after the US Federal Reserve (Fed) decided to pause the federal funds rate at 3.75%-4.00% on Wednesday. The derivatives market sees sell-side dominance among traders amid a bullish positional wipeout and a negative funding rate. Cardano threatens a deeper pullback if sellers push the price below the $0.1894 support set by the August 30 low.