The most likely DLC characters for Super Smash Bros. Ultimate - an extraordinary long Twitter THREAD

(Although based on facts and evidence, the following is my personal unbiased opinion)

If your fav isn't here, don't attack me. I even classified 2B as unlikely.

Character: Geno
Franchise: Super Mario RPG
Publisher: Square Enix

Reason(s):
- Sm4sh Mii costume still hasn't returned in Ultimate
- Was considered as a playable fighter for Brawl
- The final major fan-request (Ridley, King K. Rool, Banjo)
- Only Mii to get a splash screen

Character: Shantae
Franchise: Shantae
Publisher: WayForward

Reason(s):
- Series started as an exclusive to the Game Boy Color back in 2002
- She's the only indie spirit in Ultimate (spirits are confirmed eligible to become fighters)
- WayForward has close ties to Nintendo

Character: Ahri
Franchise: League of Legends
Publisher: Riot Games / Tencent

Reason(s):
- Nintendo is trying to strongly appeal to the Chinese market and has a close relationship with Tencent (Pokémon Unite)
- League of Legends: Wild Rift & Ruined King are coming to Switch

Character: Rayman
Franchise: Rayman
Publisher: Ubisoft

Reason(s):
- Nintendo allows Ubisoft to develop games using their IP (Mario + Rabbids, Starlink), but Ubi still doesn't have a rep in Smash
- Only third-party spirit from a franchise without a fighter

Character: Crash
Franchise: Crash Bandicoot
Publisher: Activision

Reason(s):
- Iconic 90s platforming mascot, previously a rival to Mario & Sonic
- Represents PlayStation without dealing with Sony licensing
- Activision "5 year plan" rumor

Character: Ryu Hayabusa
Franchise: Ninja Gaiden
Publisher: Koei Tecmo

Reason(s):
- 80s NES platforming icon
- KT is the co-developer of many Nintendo-published games (Hyrule/FE Warriors, Fire Emblem: Three Houses, Marvel Ultimate Alliance 3) but still doesn't have a smash rep

Character: Sora
Franchise: Kingdom Hearts
Publisher: Square Enix / Disney

Reason(s):
- Disney invited game developers to "come and play" with their IP
- Nomura says something KH related will be delivered to Nintendo fans in the "not-so-distant future"
- #1 most wanted in Japan

Character: Dante
Franchise: Devil May Cry
Publisher: Capcom

Reason(s):
- Hideki Kamiya was asked in an interview about which of his characters he'd like to see in Smash, but failed to mention Dante. This contradicts a Smash poll he held on Twitter, which Dante lead with 40%

Character: Master Chief
Franchise: HALO
Publisher: Microsoft

Reason(s):
- Nintendo and Microsoft have a tight bromance (Banjo & Steve in Smash, Ori on Switch)
- Mascot of the Microsoft brand, would be a massive inclusion to celebrate gaming history

Character: Lloyd Irving
Franchise: Tales of
Publisher: Bandai Namco

Reason(s):
- Sm4sh Mii costume still hasn't returned in Ultimate
- Bandai Namco only has one rep in Smash (Pac-Man) despite assisting with development on the game

Character: Monster Hunter
Franchise: Monster Hunter
Publisher: Capcom

Reason(s):
- Sm4sh Mii costume still hasn't returned in Ultimate
- Monster Hunter Rise is exclusive to Switch
- Nintendo published Monster Hunter Stories on 3DS

Character: Reimu Hakurei
Franchise: Touhou Project
Publisher: ZUN

Reason(s):
- Would nicely represent the SHMUP (shoot 'em up) genre
- Series is very popular in Japan
- Various Japanese rumors/leaks

Character: Chun-Li
Franchise: Street Fighter
Publisher: Capcom

Reason(s):
- She's the first ever female character in a fighting game
- With Ryu & Ken already in Smash, it makes perfect sense to add the main female from Street Fighter

Character: Lara Croft
Franchise: Tomb Raider
Publisher: Square Enix

Reason(s):
- One of the most iconic female video game characters ever
- History with Nintendo (games released on Game Boy, DS, & Wii)

Character: Arle Nadja
Franchise: Puyo Puyo
Publisher: SEGA

Reason(s):
- Dr. Mario is currently the only Puzzle game rep in Smash
- Popular series in Japan, started way back in the early 90s https://twitter.com/PuyoOfficial/status/1311782081001783298

Character: Phoenix Wright
Franchise: Ace Attorney
Publisher: Capcom

Reason(s):
- Series was a Nintendo console exclusive up until very recently, and some titles were even published by Nintendo in various regions
- Was featured in Marvel vs. Capcom with a unique fighting moveset

Character: TLOZ rep (Impa?)
Franchise: The Legend of Zelda
Publisher: Nintendo

Reason(s):
- 3 Links, 2 Zeldas, and Ganon doesn't properly represent the franchise's diverse cast of characters
- Hyrule Warriors: Age of Calamity
- BOTW2 / Smash reveal for Zelda's 35th anniversary?

Character: Jonesy
Franchise: Fortnite
Publisher: EPIC Games

Reason(s):
- Fortnite's popularity and industry impact is impossible to ignore
- Switch port was a big deal for Nin at E3 2018
- Donald Mustard refused to comment when asked in an interview about Fortnite in Smash

Character: Jibanyan
Franchise: Yo-Kai Watch
Publisher: Level-5

Reason(s):
- Level-5 has a very close relationship with Nintendo
- Nintendo has published Yo-Kai Watch and Professor Layton titles in various regions
- Pikachu vs. Jibanyan in a fighting game would be legendary

Character: KOS-MOS
Franchise: Xenosaga
Publisher: Bandai Namco

Reason(s):
- She appeared as a guest character in Xenoblade Chronicles 2
- Bandai Namco only has one rep in Smash (Pac-Man) despite assisting with development on the game

Character: Adol Christin
Franchise: YS
Publisher: Nihon Falcom

Reason(s):
- Long-running RPG series, started in the late 80s and has appeared on the NES, SNES, DS, & Switch
- Falcom revolutionized the Action RPG, and is one of the longest active game development studios (1981)

Character: DOA rep (Kasumi?)
Franchise: Dead or Alive
Publisher: Koei Tecmo

Reason(s):
- One of the last remaining mainstream fighting franchises not in Smash
- Xtreme 3 is on Switch
- KT is the co-developer of many Nintendo-published games but still doesn't have a smash rep

Character: Euden & Midgardsormr
Franchise: Dragalia Lost
Publisher: Nintendo

Reason(s):
- What better way to represent mobile gaming than with Nintendo's own venture into the market?
- The title has grossed over $100mil

Character: Soul Calibur rep (Mitsurugi?)
Franchise: Soul Calibur
Publisher: Bandai Namco

Reason(s):
- Bandai Namco has only one rep in Smash (Pac-Man) despite assisting with development on the game
- Link (LOZ) was in Soul Calibur 2, so it's time to bring things full-circle

Characters that are definitely possible, but are on varying levels of unlikely:

Characters that are very unlikely, and are practically deconfirmed: