Pi Network Crashes to All-Time Low Amid Token Unlock Fears

Pi Network’s native token, PI, has experienced a catastrophic decline, recently tumbling below $0.16 to mark its lowest price ever. As of the latest data, it trades around $0.165, representing a minor rebound but still a staggering collapse of nearly 95% from its all-time high of $3 reached in February 2025. This severe downturn is not occurring in isolation; it coincides with a critical spike in upcoming token unlocks that threatens to flood the market with new supply.

Data reveals that over 180 million PI tokens are scheduled for release in the next 30 days, averaging approximately 6 million coins unlocked daily. The pressure is expected to intensify on February 12 and 13, when more than 35 million PI will be freed in a concentrated two-day period. This impending supply shock is a primary driver of the current price weakness. Furthermore, on-chain metrics show an increase of about 1.5 million PI tokens deposited on cryptocurrency exchanges within just the last 24 hours. Such exchange inflows are widely interpreted as a preparatory step for selling, indicating that holders may be positioning to liquidate, which could trigger an additional price slump.

Ripple’s cross-border token, XRP, has also been caught in the broader market downturn, crashing to a multi-month low. A significant factor contributing to its decline has been substantial daily outflows from spot XRP Exchange-Traded Funds (ETFs). These outflows signal a potential cooling of interest from institutional investors, removing a key source of buy-side pressure during a fragile market period.

Despite the bearish price action and outflow data, several market observers maintain a bullish long-term outlook. Analyst STEPH IS CRYPTO argued on social media platform X that XRP is currently experiencing “one of its largest consolidation phases in history,” predicting that the eventual breakout will be “massive.” Another analyst, ChartNerd, suggested that a rally could materialize if bulls successfully defend a key reaccumulation support level around $1.80. Failure to hold this zone, however, could lead to a further pullback before any sustained recovery begins. As of the latest update, XRP was trading below this critical support area, leaving its near-term trajectory uncertain.

The second-largest cryptocurrency, Ethereum (ETH), has not been spared, falling well beneath the $2,800 level. Its total market capitalization has consequently shrunk to approximately $330 billion. Historical performance analysis offers a mixed picture. One analyst, Heisenberg, suggested on X that based on past cycles, ETH’s price may retreat further before eventually spiking toward the $4,000 region.

A key technical indicator, however, provides a glimmer of hope for near-term stabilization. Ethereum’s Relative Strength Index (RSI), a momentum oscillator that measures the speed and magnitude of price changes, currently stands at roughly 31. An RSI reading at or below 30 typically suggests an asset is oversold, meaning its valuation may have fallen too sharply in a short period and could be due for a corrective rebound. Conversely, readings above 70 are considered overbought. With ETH’s RSI hovering near this oversold threshold, it provides a technical basis for analysts anticipating a potential price recovery, even as broader market sentiment remains negative.