XRP Hits $0.60 With Cardano Stuck At $0.33. Will ADA Price Make A Comeback?

Amid the broader market recovery, the altcoins are gaining momentum with minor hiccups along the way. In the top gainers, the XRP price ranks high as it reclaims the $0.60 level overnight. However, the ADA price trend struggles for a comeback from $0.335 and bounces back from a support trendline. 

Let’s have a closer look at the XRP and ADA price charts to find out the buying opportunities in the altcoins. 

V-Shaped Recovery Teases $1 in XRP

Following the market crash, the XRP is one of the top altcoins to reclaim the lost peaks at a breakneck speed. With a V-shaped reversal form the 23.60% Fibonacci level and a tail formation to retest the broken trendline, the XRP price is back at $0.060.

Tradingview

Forming a morning star pattern with a massive bullish engulfing candle of 18% jump last night, XRP is back in action. As the bull run picks up pace, XRP is ready to challenge the 78.60% Fibonacci level at $0.65.

A bullish breakout of $0.65 will increase the bull run momentum and fuel the next stage of recovery to $0.91.

Cardano’s Wedge Pattern Holds The Future

Falling in a bearish wedge, the ADA price is at a crossroads with increasing bullish chances. As bulls sustain dominance over the $0.30 support level, the minor recovery from the support trendline teases a new bull cycle. 

Tradingview

Currently trading at $0.335, ADA price shows an intraday recovery of 3.40% and a bullish engulfing candle in the making. Despite the short-term bullishness, the overhead resistances hoard massive supply pressure near $0.42. 

For a breakout rally of the resistance trendline, declining 200D and 50D EMA, and the $0.42 resistance, a push from broader market recovery is critical. Optimistically, with the breakout run, ADA price will head to the 78.60% Fib level at $0.676. 

Hence, with a V-shape recovery in XRP and a reversal in Cardano, there are buying opportunities in the altcoins segment.