Cryptocurrencies Price Prediction: Cardano, Ripple & Dogecoin – European Wrap 6 November

Cardano price likely to extend gains with bullish on-chain metrics

Cardano, one of the largest competitors of the Ethereum network and a Layer-1 blockchain token is set to extend its gains this week. The altcoin’s price climbed nearly 20% on Binance in the first week of November and on-chain metrics of the asset point at a bullish scenario. 

As seen in the chart below, the transaction volume has climbed steadily over the past three months, hitting a top in November. Transaction volume rallied from 237.63 million to 332.08 million on November 6.

XRP price could extend gains with Ripple’s likely win through $20 million settlement with SEC

Ripple is likely to settle its lawsuit with the US financial regulator, Securities and Exchange Commission (SEC), at $20 million or less. Pro-XRP attorney shared his views on Ripple’s victory against the regulator in the event of a settlement.

XRP price is $0.6789 on Binance at the time of writing. The altcoin has yielded consistent gains for holders over the past month. The US SEC seeked a $770 million settlement from cross-border payment settlement firm, Ripple. However, according to pro-Ripple attorney John Deaton, the firm could settle the lawsuit for $20 million or less. 

Dogecoin Price Forecast: Why this week is important for DOGE holders

Dogecoin (DOGE) price has broken free from its declining trend line that has defined the dominant bearish trend for nearly a year. The breakout, while pivotal, needs to clear one more critical hurdle before DOGE can take off. 

Dogecoin (DOGE) price has produced five lower highs and lower lows since October 31, 2022. Connecting the swing highs using a trend line reveals a declining resistance level. On October 23, DOGE produced a weekly candlestick close above this barrier, signaling a breakout.