I know it's been a little bit since the smash 5 reveal trailer and I know also there are a lot of speculations about characters that might be in smash, but I intend to provide characters that I think are likely to be added to the game.
Rex and Pyra- Rex and Pyra seems like an obvious choice. Xenoblade 2 has done remarkably well for a lesser known JRPG franchise, and I think Shulk being in smash 4 is a big reason for this. So in part of this I think it is likely Rex and Pyra will be in the game.
Decidueye- I would say that there is a 95% chance that Decidueye will be in smash. He appears to be the most popular starter and due to being both a grass and ghost type, the different moves that could be incorporated into his moveset is fairly large. Also since we have not heard anything about Pokemon on switch, I think it is safe to say that we will not see Pokemon on switch until after smash releases meaning we will not see a Gen 8 pokemon in the starting roster (if that's even what the new pokemon game is).
X- Due to having a legacy collection coming out soon on switch, I think he will be in the game in some way. However it is hard to tell if he will be in as an assist trophy, new character, or alt. costume for Mega Man.
Shovel Knight- I would put him in the same category as X, Shovel Knight will probably be in the game, however, it is hard to tell whether it is as an assist trophy or a new character.
ARMS character- Normally I would say that an ARMS character is highly likely to appear in smash 5 but it appears that Sakurai thinks the series is a little young to be put in the game, so maybe a DLC fighter.
Final Fantasy character- Possibly, with cloud being in smash 4 and square Enix clearly showing support for the switch, it is possible that we will get another FF character, as for which one I could not tell you.
Sora- another possible candidate due to being a square Enix character.
Rayman- In smash 4 he had no shot, due to not many third parties supporting the Wii U. That is not the case with the switch, and if I remember correctly there is a Rayman Legends game coming to the switch soon, opening up the door for him even more.
Crash Bandicoot- It's now or never for crash. The insane trilogy is coming to the switch due to the overwhelming third party support of the switch. So if it's going to happen, it would happen to be in this installment.
Dark Souls main character- Dark souls is getting remastered for the switch, and there is an amiibo for it so its not like they would have to make another one. Even though Dark souls is a darker game, it did not stop Bayoneta from sneaking in due to the smash ballot, so it is definitely possible.
Dixie Kong- maybe. There are already two kongs which is why I think Nintendo is a little hesitant to do it but it would still work.
I know this list is mostly speculative but I think each one of these characters has a shot at appearing in the game. Now I would like to address some other characters that are obviously on people's minds.
Waliugi- will probably not be in the game. There's a reason he just bashes people with a tennis racket as an assist trophy, he only appears in mario sports titles.
King K. Rool- would have a better shot if he was the villin in DKTF, which he isn't.
Ridley- if he's the villain in metroid prime 4 then possibly. Even still its very unlikely. I understand that they shrank bowser, but also what kind of a moveset would you give him?
Either way thank you for reading the whole thing, its nice to put my thoughts out there. Let me know if you want to see some more! There certainly is enough Nintendo news to talk about at the moment.
Rex and Pyra- Rex and Pyra seems like an obvious choice. Xenoblade 2 has done remarkably well for a lesser known JRPG franchise, and I think Shulk being in smash 4 is a big reason for this. So in part of this I think it is likely Rex and Pyra will be in the game.
Decidueye- I would say that there is a 95% chance that Decidueye will be in smash. He appears to be the most popular starter and due to being both a grass and ghost type, the different moves that could be incorporated into his moveset is fairly large. Also since we have not heard anything about Pokemon on switch, I think it is safe to say that we will not see Pokemon on switch until after smash releases meaning we will not see a Gen 8 pokemon in the starting roster (if that's even what the new pokemon game is).
X- Due to having a legacy collection coming out soon on switch, I think he will be in the game in some way. However it is hard to tell if he will be in as an assist trophy, new character, or alt. costume for Mega Man.
Shovel Knight- I would put him in the same category as X, Shovel Knight will probably be in the game, however, it is hard to tell whether it is as an assist trophy or a new character.
ARMS character- Normally I would say that an ARMS character is highly likely to appear in smash 5 but it appears that Sakurai thinks the series is a little young to be put in the game, so maybe a DLC fighter.
Final Fantasy character- Possibly, with cloud being in smash 4 and square Enix clearly showing support for the switch, it is possible that we will get another FF character, as for which one I could not tell you.
Sora- another possible candidate due to being a square Enix character.
Rayman- In smash 4 he had no shot, due to not many third parties supporting the Wii U. That is not the case with the switch, and if I remember correctly there is a Rayman Legends game coming to the switch soon, opening up the door for him even more.
Crash Bandicoot- It's now or never for crash. The insane trilogy is coming to the switch due to the overwhelming third party support of the switch. So if it's going to happen, it would happen to be in this installment.
Dark Souls main character- Dark souls is getting remastered for the switch, and there is an amiibo for it so its not like they would have to make another one. Even though Dark souls is a darker game, it did not stop Bayoneta from sneaking in due to the smash ballot, so it is definitely possible.
Dixie Kong- maybe. There are already two kongs which is why I think Nintendo is a little hesitant to do it but it would still work.
I know this list is mostly speculative but I think each one of these characters has a shot at appearing in the game. Now I would like to address some other characters that are obviously on people's minds.
Waliugi- will probably not be in the game. There's a reason he just bashes people with a tennis racket as an assist trophy, he only appears in mario sports titles.
King K. Rool- would have a better shot if he was the villin in DKTF, which he isn't.
Ridley- if he's the villain in metroid prime 4 then possibly. Even still its very unlikely. I understand that they shrank bowser, but also what kind of a moveset would you give him?
Either way thank you for reading the whole thing, its nice to put my thoughts out there. Let me know if you want to see some more! There certainly is enough Nintendo news to talk about at the moment.
