Three cryptocurrencies to put on your watchlist this week:

WIF

Leveraging the Solana blockchain, dogwifhat has become a dominant player in the memecoin space in recent months.  WIF’s price has surged significantly, with its latest peak reaching an all-time high of $4.80 on March 31, a staggering gain of over 250,000% since its inception.

However, as of the latest update, WIF has seen a slight drop, with its price down over 4%. Despite this setback, WIF has retained its position as the third-largest memecoin by market cap, currently valued at $3.25 billion. This week, WIF has managed to surge 7%.

Analyzing its recent performance, WIF has had 15 positive trading days out of the past 30, indicating a 50% success rate. This consistency contributes to its reputation for high liquidity, which is also reflected in its market cap. The current sentiment surrounding the WIF price prediction is neutral, while the Fear & Greed Index is at 80, indicating extreme greed in the market.

SNX

Synthetic assets are one of the best performing assets in DeFi and have seen impressive price action since the start of the bull run. In the past 24 hours, Synthetix has gained around 5% and the trading volume has grown by over 40%. The bullish momentum has been largely driven by the growing activity in the network.  

The bullish performance of SNX stems from the recovering trend in the entire cryptocurrency market. With the market regaining bullish sentiment, the chances of SNX climbing to the $5 range are relatively high. This means that if the market trend remains bullish, the asset has a clear path to $10.  

Apart from the improving market sentiment, technical data also suggests a solid underlying uptrend for the SNX token. However, some indicators applied to the SNX chart suggest weaknesses in its trend. For instance, as the MACD reading turned bearish today, SNX could face a pullback on the way down to $5. Similarly, the value of its SMA30 turned bullish on the daily timeframe.  

Nevertheless, the RSI reading for the coin is approaching the overbought region, which could trigger a return to the uptrend. Furthermore, its ADI value is relatively low at 15. This value suggests that the trend may soon reverse. Another indicator that indicates bullish sentiment is the EMA200, which is significantly below the current price. This way, SNX has enough room to fill the short-term bearish pressure.XRP

Ripple has announced plans to launch its stablecoin later this year. The company aims to launch the stablecoin on two blockchain platforms, Ethereum and XRP Ledger, before expanding to other networks. This stablecoin will be pegged to the US dollar, which means its value will be closely linked to the US dollar.  

In addition, Ripple has pledged to provide monthly proof of reserves backing its stablecoin to ensure transparency and credibility. These reserves will include US dollar deposits, short-term US bonds, and cash equivalents. Following the announcement, the price of XRP has risen slightly. As of the time of writing, XRP is trading at $0.61, up slightly on the day.  

However, the monthly price chart shows that XRP has seen a slight drop in its value by 2.35%. Technical indicators show that XRP is currently trading above the 200-day simple moving average, indicating a positive trend in the market.  

In addition, recent trading patterns show that XRP has had more green days than red days in the past month, with gains recorded on 16 of the past 30 days. XRP maintains high liquidity as evidenced by its market cap and volume-to-market cap ratio of 0.5591. Investors appear optimistic about XRP’s prospects and anticipate a potential bullish move soon.