PI has staged a remarkable comeback after plunging to an all-time low of $0.40 on April 5. Amid a broader market recovery over the past week, the altcoin has seen a resurgence in demand, driving its price up 84% from its recent bottom.

With the bulls attempting to strengthen market control, PI could extend its gains in the short term. 

PI Recovers From Crash With Strong Bullish Setup 

PI’s Moving Average Convergence Divergence (MACD) indicator has flashed a bullish signal. On the daily chart, the MACD line (blue) crossed above the signal line (orange) on April 5, indicating a positive shift in momentum right after it bottomed at $0.40. 

Additionally, the histogram bars, which reflect the strength of that momentum, have gradually increased in size over the past few days, highlighting the growing demand for the altcoin.

When an asset’s MACD is set up this way, upward momentum is building, and buyers are gaining control. PI’s MACD crossover is a bullish signal, suggesting the potential for continued price gains as buying pressure increases.

In addition, PI’s positive Balance of Power (BoP) reflects the growing demand for the altcoin. As of this writing, the indicator is at 0.52. 

The BoP indicator measures the strength of buyers versus sellers in the market, helping to identify momentum shifts. When its value is positive, buyers are dominating the market over sellers and driving newer price gains. 

Is $1 Within Reach?

PI’s ongoing rally has caused its price to trend within an ascending parallel channel. This bullish pattern is formed when an asset’s price consistently moves between two upward-sloping, parallel trendlines.

It signals a sustained uptrend, with PI buyers gradually gaining control while allowing short-term pullbacks. If the rally continues, PI could exchange hands at $0.95.

However, if the altcoin reverses its current trend and sheds recent gains, its value could fall to $0.40.

Since plunging to its year-to-date low of $1.61 on April 7, XRP holders have taken full advantage of the dip, ramping up accumulation efforts. This buying pressure has steadily increased the asset’s value over the past week. 

At press time, XRP trades at a seven-day high of $2.19 and technical indicators show that it’s positioned to extend the gains.

XRP Golden Cross Drives Bullish Momentum

On the daily chart, a golden cross has formed on XRP’s Moving Average Convergence Divergence (MACD) indicator, which is often viewed as a key signal of a shift toward long-term upside. 

The MACD indicator measures an asset’s price trends and momentum, and identifies reversal points. It forms a golden cross when its MACD line (blue) crosses above its signal line (orange). 

When a golden cross emerges like this, it signals a positive shift in investor sentiment. Traders interpret it as a cue that buying pressure outpaces selling activity, which can attract even more inflows and drive the price higher.

For XRP, this golden cross occurred on April 11, reinforcing the growing bullish sentiment surrounding the asset. This pattern confirms that the altcoin’s recent price rebound is not just a short-lived reaction but may mark the beginning of a more sustained uptrend.

Further, the token’s positive Chaikin Money Flow (CMF) supports this bullish outlook. At press time, it rests above the center line and in an uptrend at 0.07.

The CMF indicator measures how money flows into and out of an asset. A positive CMF reading, as with XRP, means buying pressure is stronger than selling pressure over a given period. It suggests capital is flowing into the token, signaling accumulation and potential price growth.

XRP Maintains Uptrend—Next Stop: $2.50 or Back to $1.99?

Since its rally began on April 7, XRP has traded above an ascending trend line. This bullish pattern emerges when an asset forms higher lows over time, creating an upward-sloping support line.

It signals sustained buying interest in XRP and suggests that momentum is building in favor of the bulls as the token’s price continues to climb.

If demand soars, XRP could extend its gains and climb to $2.29. A successful flip of this resistance into a support floor could propel XRP to $2.50.

However, if profit-taking resumes and selling pressure rises, XRP could reverse its uptrend and fall to $1.99.

New York is taking a bold step toward mainstream crypto adoption. A new legislative proposal seeks to allow residents to use digital assets like Bitcoin, Ethereum, and Litecoin to pay for government-related services.

Although New York has yet to propose a Bitcoin reserve bill like its neighboring states, this proposal could pave the way for wider adoption in a state where crypto has been strictly regulated for years.

New York Could Soon Accept Tax and Rents in Bitcoin

The proposed legislation, known as Assembly Bill A7788, was introduced by Assemblyman Clyde Vanel.

The bill seeks to amend New York’s state finance law to allow government agencies to accept cryptocurrencies for a variety of payments. These include taxes, rent, fines, fees, and other state-imposed obligations.

“Each state agency is authorized to enter into agreements with persons to provide the acceptance, by offices of the state, of cryptocurrency as a means of payments of fines, civil penalties, rent, rates, taxes, fees, charges, revenue, financial obligations or other amounts including penalties, special assessments and interest, owed to state agencies,” the bill stated.

Under the bill, state agencies would be allowed—but not required—to enter agreements to accept crypto payments. This flexibility gives each agency the choice to determine whether accepting digital assets aligns with its operations.

If passed, it will also allow the government departments to impose a service fee on crypto transactions. This fee would only cover the actual cost to the state, including network transaction charges or other fees incurred during processing.

A7788 has now advanced to the Committee on Governmental Operations. If approved, the bill will go into effect 90 days after being signed into law.

Some Lawmakers Still Want Tighter Regulations

While the bill signals a more crypto-friendly stance in New York, not all state leaders support unrestricted adoption.

Attorney General Letitia James recently urged federal lawmakers to enact stronger regulatory frameworks for the crypto industry.

She cautioned that without clear federal oversight, digital assets could erode the dominance of the US dollar. She also warned they may expose national security risks and facilitate illegal financial activity.

“A strong dollar is in America’s national interest. It means there is demand for and confidence in US institutions and the US economy. America should defend the prime position of the US dollar for global transactions—a position that Bitcoin, which can instantly transfer value globally, threatens,” James stated.

James emphasized that bad actors can use cryptocurrencies to bypass traditional financial systems, fund adversarial regimes, or support criminal enterprises.

Although she acknowledged blockchain’s innovative potential, James outlined key principles for federal crypto regulation.

These include requiring platforms to comply with anti-money laundering laws, enforcing registration for issuers and intermediaries, and disallowing crypto in retirement accounts.

Her recommendations aim to protect investors, promote market transparency, and safeguard the broader economy.

“As Congress takes the mantle to propose legislation governing the cryptocurrency industry, we hope it also takes action to mitigate the risks posed by the industry to America’s national security, financial stability, and citizens,” James concluded.

While the state considers expanding crypto use, officials remain divided on how best to balance innovation with long-term financial security.

New York’s move could set a precedent if it aligns with safeguards that protect both the public and the economy.