XRP and ADA Price Analysis: Altcoin Season Inches Closer as XRP and ADA Price Surge Teases a Move Above the $1 Milestone

With the bull run beginning in the crypto market, the silent altcoins are now making massive upside waves. As the XRP and ADA price surge, the bull run in these altcoins is teasing a surge above the $1 milestone.

The cryptocurrency market is experiencing a bull run, and several altcoins are making significant gains. XRP and ADA, in particular, are teasing a surge above the $1 milestone.

As the altcoin season approaches, let's analyze the XRP and ADA price action closely.

XRP's Breakout Rally Hits $0.60

Over the past two weeks, XRP's price has shown a strong recovery amidst the broader market rally. From the $0.382 mark, the altcoin's price rallied 56.8% to trade at $0.60, while its market capitalization surged to $33.6 billion.

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The rising XRP price managed to reclaim the daily EMAs (20, 50, 100, and 200), indicating an early sign of bullish sentiment returning to this asset.

However, a glance at the daily chart reveals that the ongoing recovery is still contributing to the formation of a symmetrical triangle on the chart. This chart pattern is known to drive a consolidation trend in an asset, leading to a build-up in the prevailing market direction.

Hence, a bullish breakout in the altcoin will signal a bull run and bolster buyers to chase a potential target of $1.94.

ADA Price Stuck Below 200D EMA

Amidst the recent market recovery, Cardano's price correction formed a suitable bottom at $0.33. Renewed demand pressure uplifted the altcoin by 33.7% to trade at $0.44, while its market capitalization climbed to $15.8 billion.

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The rising price managed to acquire the support of the 50D EMA and breached the downsloping trendline, which carried the prevailing correction. Sustaining this breakout will signal a shift in market sentiment from selling on rallies to buying on dips.

With sustained buying, ADA's price will be up for surpassing the immediate resistance of 200D EMA and 50% Fibonacci retracement level around $0.558. Both these levels are crucial to signal a trend reversal in the altcoin.

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