Cryptocurrencies Price Prediction: TRUMP, Ripple & Dogecoin – Asian Wrap 05 November

Official Trump Price Forecast: TRUMP hits record low amid mounting selling pressure

Official Trump (TRUMP) hovers around $1.2500 at press time on Thursday, taking a breather after a 20% drop the previous day. TRUMP token’s decline aligns with Republicans' defeat in the US midterms. Positional buildup in TRUMP derivatives suggests a more bearish bias among traders, while the technical outlook reaffirms the potential for further downside as selling pressure persists.

Ripple and Stellar outlook: XRP and XLM extend recovery as bears lose steam

XRP price trades at $1.308 on Thursday, maintaining a mildly constructive bias as it closes above the upper trendline of the falling channel pattern. However, XRP is still capped below its key Exponential Moving Averages (EMAs). The 100-day EMA at $1.323, the 50-day EMA at $1.335 and the 200-day EMA at $1.378 all sit overhead, suggesting the pair remains capped despite a modest improvement in momentum.

Dogecoin Price Forecast: Rebound gains traction as bulls target key resistance trendline

Dogecoin (DOGE) shows signs of recovery, hovering above $0.0770 on Thursday after two consecutive days of gains. The meme coin gains traction despite muted appeal from institutional investors and declining Open Interest. The technical outlook for DOGE suggests an upside bias as the recovery gains traction, hinting at a potential bullish breakout of a key resistance trendline on the four-hour chart.