Pi Network (PI) is up 4% on Monday, advancing its near-term recovery after a 2% rebound the previous day. The broader cryptocurrency market’s recovery, with Bitcoin (BTC) hitting an eight-month high of $85,000, is boosting investors’ risk appetite for high-risk crypto assets like the PI token. The technical outlook for PI is mixed, as a short-term recovery could lead to a breakout rally.

Ripple (XRP) holds a strong bullish picture, rising to trade near $1.50 on Monday. The remittance token marks four consecutive days of gains, supported by robust momentum indicators and increased risk appetite in the broader cryptocurrency market.

A daily close above $1.50 could reassert bullish control, raising the odds of an extended breakout to $1.60 and subsequently August highs of $1.70.

Cryptocurrencies are broadly rising on Monday, led by Bitcoin’s (BTC) surge to $85,000. Altcoins are following BTC’s bullish trend, with Ethereum (ETH) trading above $2,700 and Ripple (XRP) holding steady at $1.47.