Pi Network Price Eyes $0.10 as Crypto Market Surges Ahead of Protocol 27 Upgrade

On 2026-08-21, crypto news outlet cryptonews.com reported that XRP fell below $1.35 after an attempted recovery toward $1.40 lost momentum, with more than $220 million in crypto long positions reportedly liquidated over 12 hours as Bitcoin and Ethereum dropped toward $81,000 and $2,300 respectively. The same report said the XRP Ledger's fixCleanup3_4_0 amendment, initially expected to activate on October 23, has slipped after validator support briefly fell to 26 of 35 trusted validators, below the 29 votes required, restarting the countdown and moving projected activation to November 4 at 14:46 UTC. XRP was down 2% over 24 hours while still up 1.1% over seven days, per the report.

Background

The source describes a market backdrop in which leveraged long positions were being forcibly closed. It explains that when leveraged traders open long positions they are betting prices will rise, and a sharp decline can trigger forced closures when collateral becomes insufficient, potentially adding selling pressure and accelerating losses. That mechanism is presented as an additional source of pressure on XRP beyond its own price action. On the network side, the report frames the XRP Ledger as preparing a significant maintenance update, the fixCleanup3_4_0 amendment, which bundles technical corrections affecting several XRPL components: single-asset vaults, lending, automated market makers, the permissioned decentralized exchange, trust lines, NFTs, escrow, and transaction signing. These changes are described as intended to correct issues in the network's implementation. The report also notes that XRPL's separate lending amendments have not received the necessary approval, meaning the maintenance update should not be confused with the launch of a fully enabled lending protocol. The revised timeline is presented as giving traders another date to monitor, while the token must first contend with the current market downturn. The source also references a separate promotional item about crypto presales in Q4 2026, which is not part of the market or network facts described.

What happened

According to cryptonews.com, the XRP price climbed toward $1.40 just a few hours before the report, then reversed lower, falling through the $1.38 and $1.36 areas before approaching $1.33. The report said the attempted recovery looked increasingly fragile, with XRP down 2% over 24 hours despite remaining up 1.1% over seven days. The same report said renewed selling pressure hit the broader crypto market, with more than $220 million in crypto long positions reportedly liquidated over 12 hours as Bitcoin and Ethereum dropped toward $81,000 and $2,300 respectively. On the network side, the source reported that the XRP Ledger's fixCleanup3_4_0 amendment was initially expected to activate on October 23, but that timeline changed after validator support briefly fell to 26 of 35 trusted validators, below the 29 votes required to maintain the necessary majority. The countdown consequently restarted, moving the projected activation to November 4 at 14:46 UTC. The report described the amendment as bundling technical corrections affecting single-asset vaults, lending, automated market makers, the permissioned decentralized exchange, trust lines, NFTs, escrow, and transaction signing, intended to correct issues in the network's implementation. It added that XRPL's separate lending amendments have not received the necessary approval, so the maintenance update should not be confused with the launch of a fully enabled lending protocol. No official XRPL or institutional primary document was provided with these materials, so all figures and dates here are attributed to the cryptonews.com report alone.

Market impact

The only figures available come from the cryptonews.com report. XRP fell below $1.35 after an attempted recovery toward $1.40 lost momentum, dropping through $1.38 and $1.36 before approaching $1.33, and was down 2% over 24 hours while up 1.1% over seven days. More than $220 million in crypto long positions were reportedly liquidated over 12 hours, with Bitcoin and Ethereum dropping toward $81,000 and $2,300 respectively. On the technical side, the report framed the immediate question as whether buyers can hold the $1.30–$1.32 region, with a recovery above $1.35 easing some short-term pressure and a sustained break below $1.30 weakening the recovery scenario and potentially encouraging further selling, particularly if Bitcoin and Ethereum continue to fall. It said traders will also be watching whether liquidation pressure eases and whether spot-market demand returns. On the network timeline, validator support briefly fell to 26 of 35 trusted validators against the 29 votes required, restarting the countdown and moving projected activation to November 4 at 14:46 UTC from an initial expectation of October 23. The report noted the November 4 projection provides a potential network catalyst provided validator support remains above the required threshold.

Why it matters

The source supports a reading in which XRP's near-term direction depends more on market demand and broader crypto conditions than on the upgrade date alone. The report states that a sustained recovery will likely require stronger buying interest and improved conditions across the broader crypto market, rather than the upgrade date alone. It also flags two conditions traders can monitor: whether liquidation pressure eases and whether spot-market demand returns. On the network side, the delayed activation means the technical corrections bundled in fixCleanup3_4_0, covering single-asset vaults, lending, automated market makers, the permissioned decentralized exchange, trust lines, NFTs, escrow, and transaction signing, arrive later than initially expected, and the report cautions that the maintenance update should not be confused with the launch of a fully enabled lending protocol because XRPL's separate lending amendments have not received the necessary approval. The report also ties the recovery scenario to Bitcoin and Ethereum, noting that further declines in those assets could encourage additional selling in XRP.