Cryptocurrencies Price Prediction: Dogecoin, Ripple & Pepe – European Wrap 2 May

Top 3 meme coins Dogecoin, Shiba Inu and Bonk: Recovery likely if Bitcoin freefall ends

Meme coins Dogecoin (DOGE), Shiba Inu (SHIB) and Bonk (BONK) look primed for recovery, according to technical indicators, despite the broader crypto market correction prompted by the sharp drop in Bitcoin (BTC) price.

BTC price has plunged around 11% since April 30. If Bitcoin’s decline grinds to a halt, assets in other crypto sectors including meme coins – which are considered more speculative than most digital assets – could reverse their recent downtrend. 

XRP tests $0.52 resistance while XRP Ledger developers propose lending protocol on the blockchain

Ripple (XRP) has failed to close above $0.52 for five consecutive days, struggling with the sticky resistance. XRP holders digested the news of US Securities and Exchange Commission’s (SEC) response to Ripple in its filing that addressed the issue of “expert testimony.” Traders now have their eyes peeled for the court’s decision on the next major concern, the $2 billion fine proposed by the SEC and Ripple’s counter of $10 million. 

XRP Ledger developers have proposed the introduction of direct lending on the blockchain, without the involvement of smart contracts. The proposal has garnered interest in the XRP holder community. 

Pepe whales buying spree could trigger 55% rally

Pepe’s (PEPE) recent price action suggests that its consolidation could be coming to an end, but a breakout confirmation is required before PEPE shoots up. While the bullish outlook does seem encouraging, there are a lot of considerations investors need to understand before diving head-first into buying this meme coin on the dips.

Pepe's price has been trading between the $0.00000581 to $0.0000109 range for roughly seven weeks. This consolidation has produced a range-low deviation, which was followed by a quick recovery above the range-low. Going forward, investors can expect a retest of the recently flipped range low to serve as a support floor, kick-starting the next leg up.