{"id":48508,"date":"2025-02-28T09:50:56","date_gmt":"2025-02-28T09:50:56","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=48508"},"modified":"2025-02-28T09:50:56","modified_gmt":"2025-02-28T09:50:56","slug":"ripple-xrp-price-crash-pi-network-pi-volatility-and-more-bits-recap-feb-28","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=48508","title":{"rendered":"Ripple (XRP) Price Crash, Pi Network (PI) Volatility, and More: Bits Recap Feb 28"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

XRP recorded a 10% daily drop, with the broader market collapse adding pressure and sparking concerns about the end of the bull cycle.<\/p>\n

Pi Network\u2019s native token bucks the bearish trend, surging 250% in a week, with speculation about a Binance listing fueling optimism.<\/p>\n

Meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), face steep declines as the SEC\u2019s recent statement cast doubt on their utility and increase investor caution.<\/p>\n

<\/a><\/p>\n

XRP Struggles to Float Above $2<\/span><\/h2>\n

The cryptocurrency market\u2019s collapse has <\/span>escalated<\/span><\/a> in the past 24 hours, with countless digital assets plunging by double digits. Ripple\u2019s XRP is among the biggest losers, tanking by 10% on a daily scale. It traded slightly above $2 over the past several hours before tanking below that psychological level (according to CoinGecko\u2019s data).<\/span><\/p>\n

<\/a>XRP Price, Source: CoinGecko<\/p>\n

While some industry participants believe the bull cycle might be over, some factors suggest that a resurgence is not out of the question.\u00a0<\/span><\/p>\n

One element that could bring back the green candles is the eventual resolution of the lawsuit between Ripple and the US Securities and Exchange Commission (SEC). The case remains ongoing for more than four years after its start, but some <\/span>important<\/span> developments signal that its outcome could be just around the corner.\u00a0<\/span><\/p>\n

For instance, the regulator has recently suspended lawsuits against some crypto entities, including <\/span>Coinbase<\/span><\/a>, <\/span>Uniswap<\/span><\/a>, and others. <\/span>This<\/span> has caused speculation that the legal battle against Ripple might be the next to <\/span>be dismissed<\/span>.<\/span><\/p>\n

Some experts<\/span>, though,<\/span> have argued that the <\/span>complexity of the case<\/span> might be a hurdle.<\/span> The popular US lawyer Jeremy Hogan <\/span>said<\/span><\/a>:<\/span><\/p>\n

\u201cThe SEC broke up with Coinbase after a couple of dates. Ripple and the SEC live together and have a baby.\u201d<\/span><\/p>\n

He thinks dismissing the lawsuit against the company is unlikely, <\/span>forecasting<\/span> a settlement instead.<\/span><\/p>\n

PI\u2019s First Trading Days<\/span><\/h2>\n

Contrary to the bearish environment in the crypto market in the last several days, the native token of Pi Network has charted impressive gains. <\/span>It has surged by over 250% <\/span>on a weekly scale<\/span>, <\/span>reaching<\/span><\/a> an all-time high of almost $3 on February 27 and <\/span>currently<\/span> trading at roughly $2.13.<\/span><\/p>\n

<\/a>PI Price, Source: CoinGecko<\/p>\n

Some market observers believe PI\u2019s rally has yet to reach its full potential. They based the prediction on the assumption that Binance is about to list the token on its platform.<\/span><\/p>\n

Not long ago, the biggest crypto exchange\u00a0<\/span>held a community vote<\/span><\/a> to determine whether its users would want to see PI available for trading. The results became official <\/span>on February 27<\/span>, with over 86% of the voters clicking the \u201cyes\u201d option.<\/span><\/p>\n

The Memes Bleed Heavily<\/span><\/h2>\n

Last <\/span>but not least<\/span>, we will touch upon the meme coin niche, which is also <\/span>deeply<\/span> covered in red. Leading tokens like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and Official Trump (TRUMP) have collapsed by double digits in the past 24 hours alongside the overall market slump.<\/span><\/p>\n

The poor performance comes <\/span>shortly<\/span> after the SEC <\/span>classified<\/span><\/a> most meme coins as non-securities. At the same time, the agency claimed that these tokens \u201ctypically have limited or no use or functionality,\u201d warning investors that they sit at the furthest end of the risk spectrum.\u00a0<\/span><\/p>\n

The post Ripple (XRP) Price Crash, Pi Network (PI) Volatility, and More: Bits Recap Feb 28<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR XRP recorded a 10% daily drop, with the broader market collapse adding pressure and sparking concerns about the end of the bull cycle. Pi Network\u2019s native token bucks the bearish trend, surging 250% in a week, with speculation about a Binance listing fueling optimism. Meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe […]<\/p>\n","protected":false},"author":0,"featured_media":48509,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-48508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/48508"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48508"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/48508\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/48509"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}