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bitcoin
Bitcoin (BITCOIN)
$112,625 -2.40%
ethereum
Ethereum (ETHEREUM)
$3,981 -4.01%
binancecoin
BNB (BINANCECOIN)
$1,108 -2.96%
solana
Solana (SOLANA)
$200.24 -0.98%
ripple
XRP (RIPPLE)
$2.63 -1.09%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000010 -0.83%
pepe
Pepe (PEPE)
$0.000007 -2.96%
bonk
Bonk (BONK)
$0.000015 -2.55%
bitcoin
Bitcoin (BITCOIN)
$112,625 -2.40%
ethereum
Ethereum (ETHEREUM)
$3,981 -4.01%
binancecoin
BNB (BINANCECOIN)
$1,108 -2.96%
solana
Solana (SOLANA)
$200.24 -0.98%
ripple
XRP (RIPPLE)
$2.63 -1.09%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000010 -0.83%
pepe
Pepe (PEPE)
$0.000007 -2.96%
bonk
Bonk (BONK)
$0.000015 -2.55%
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Pi Price Forecast: Why PI Could Rally to $0.50 Soon

Highlights:

  • Pi is trending towards $0.288 resistance
  • Pushing through this resistance could send Pi to $0.50 
  • A confluence of internal and broader market news could sustain the rally 

Pi (PI) is one of the few cryptocurrencies showing movement today. While better-known cryptocurrencies such as Bitcoin remain unchanged, Pi is up 17% to trade at $0.272. Trading volumes are also on the rise. At the time of writing, they were up by 82.6% to stand at $102.75 million. This is a pointer to strong money flow into Pi, and expectations that the price could be headed much higher in the short term. The excitement surrounding Pi is based on exciting news about Pi that has emerged over the last 24 hours. 

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Pi Rallies After Joining ISO 20022 Financial Messaging Standard

The Pi network has announced that it is joining the ISO 20022-compliant group. This is a significant development, as ISO 20022 is a financial messaging standard used by mainstream financial institutions, such as banks.

In the cryptocurrency space, cross-border payment cryptocurrencies like XRP and XLM are also part of the standard. Essentially, Pi is joining an elite group of cryptocurrencies that have aligned themselves with globally accepted cross-border payment standards.

The market is excited because this move could drive widespread adoption of Pi for international payments. It also lends Pi a high level of legitimacy in a crowded market, and could trigger a new capital flow at unprecedented levels. Pi is expected to complete alignment with the ISO 20022 standard on November 22. This means the price could continue to rise to that date as FOMO builds around the implications of the standard. 

Federal Reserve Expected to End QT – Bullish for PI

The news of Pi joining the ISO 20022 also comes at a good time in terms of market macros. One of the big news stories at the moment is about interest rates. The US Federal Reserve is expected to end QT today and start an aggressive rate-cutting cycle.

Recently, they cut interest rates by 25 basis points. Expectations are high that the rates will be cut by another 25 basis points today. Some outliers in the prediction markets are even speculating that the Fed could cut by 50 basis points today. 

Regardless of the number of cuts, interest rate cuts are beneficial for the cryptocurrency market. That’s because they make it easier for investors to access cheap capital. This liquidity tends to flow into risk-on markets that have a high risk, but also a probability for high rewards. For Pi, which is already showing strong momentum ahead of the interest rates decision, a cut could see it go parabolic.

PI Could Rally More If the US and China End Trade Animosity

Pi’s ISO 20022 news is also coming just a day before President Trump and China’s President Xi meet in South Korea. The meeting is expected to end the trade stalemate between the two countries and alleviate the prevailing uncertainty hanging over the markets. Trump has already made moves that signal a good deal by cutting China’s tariffs imposed due to Fentanyl by 20%.

Clarity on US-China relations after the meeting could send financial markets rocketing in the short term. For Pi, which is already solidly in the green due to internal news, a good China-US deal could see it rally to new highs in the short to medium term.

Technical Analysis – Pi Trending Towards Key Resistance

Pi has been gaining for the past 24 hours. Currently, it is trending towards the critical $0.288 resistance. A rally through this resistance could send Pi to 0.50 in the short term. On the other hand, if bulls fail at the $0.288 resistance, then two scenarios could play out.

Pi
Source: TradingView

The first is a consolidation around it until new momentum hits the market. The second is a correction that could see Pi drop to the $0.22 support. Of these scenarios, the odds are higher for a breakout to $0.50. That’s because, besides PI internal news, the macro environment favors risk-on assets going into the foreseeable future.

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