The cryptocurrency market is grappling with significant corrections, particularly affecting Pi Network (PI), which has dropped to an unprecedented low.

While both Ripple’s XRP and Ethereum (ETH) are also feeling the brunt, analysts are speculating a potential recovery in the near future.

PI Continues Its Downward Trend

Recently, the Pi Network’s native token fell below $0.16, reaching its lowest point to date. Currently, it trades around $0.165, representing a minor recovery but still about a 95% drop from its February 2025 peak price of $3.

Factors contributing to PI’s decline include broader market downturns and the imminent release of a considerable amount of tokens. Over the next month, more than 180 million coins are expected to unlock, averaging about 6 million daily. The peak unlock dates are slated for February 12 and 13, when over 35 million PI will enter circulation.

PI Token Unlocks, Source: piscan.io

Additionally, there has been a notable increase of roughly 1.5 million tokens on crypto exchanges in just the past 24 hours, which is often viewed as a precursor to potential sales, hinting at further price declines ahead.

Ripple’s Upcoming Challenges

Ripple’s XRP is also caught in the general market decay, recently plunging to a multi-month low. A critical factor in this downturn appears to be a substantial outflow from spot XRP ETFs, indicating diminishing interest from institutional investors.

Spot XRP ETFs, Source: SoSoValue

Despite these setbacks, a segment of market analysts remains optimistic. Noted market commentator STEPH IS CRYPTO has pointed out that XRP is experiencing one of its largest consolidation phases in history, forecasting a potentially significant breakout.

Insights on Ethereum

Meanwhile, Ethereum has also suffered, trading below $2,800 and dropping its market capitalization to approximately $330 billion. Historical patterns suggest ETH may dip further before making a comeback, with recent indicators like the Relative Strength Index (RSI) hovering around 31, which often suggests that the asset is undervalued and poised for a rebound.

ETH RSI, Source: CryptoWaves