Cryptocurrencies Price Prediction: Ripple, Dogecoin & Solana – European Wrap 16 April

XRP struggles to overcome $0.50 resistance, SEC vs. Ripple could enter final pretrial conference

XRP is struggling with resistance at $0.50 as Ripple and the US Securities and Exchange Commission (SEC) are gearing up for the final pretrial conference on Tuesday at a New York court. This conference will allow both parties to explore settlement options before the official trial phase begins. The legal calendar shows the date and time, so the conference is planned and may proceed as scheduled.

SEC vs. Ripple lawsuit proceedings have acted as a catalyst for XRP price since 2020. The latest development is the final pretrial conference, mentioned in the legal calendar of a New York court, which is expected to begin on Tuesday at 18:00 GMT (14:00 local time).

Dogecoin on-chain metrics signal DOGE could suffer price drop

Dogecoin (DOGE), one of the largest meme coins in the crypto ecosystem, has noted an increase in on-chain activity alongside a price correction since the beginning of April. DOGE price, which is down 3.3% on the day, is at risk of a further drop as whales shed their token holdings. 

DOGE transaction volume was up from $2.99 billion on April 6 to $5.36 billion on April 15. Typically, an increase in transaction volume shows that the token is relevant and there is higher user activity. However, this increase in volume has come hand in hand with a more than 13% price decline. 

Solana Price Prediction: SOL primed for a breakout as it completes a rounding bottom pattern

Solana (SOL) price has conformed to the broader market crash, following in the steps of Bitcoin (BTC) price that remains in the red below the $65,000 threshold. For SOL, however, the sensational altcoin could have a big move in store as it flirts with a bullish reversal pattern.

Solana price suffered a prolonged fall beginning November 2021 through January 2023, falling by over 98%. This was followed by a brief horizontal consolidation before the bulls took over, with the price action culminating in a rounding bottom pattern.