Date: Thu, April 10, 2025 | 06:06 AM GMT
The cryptocurrency market has made a sharp recovery in the past few hours after President Trump announced a 90-day pause on tariffs. This unexpected move sparked a strong relief rally following the brutal crash on Black Monday. Bitcoin (BTC) jumped by 6%, while Ethereum (ETH) surged by over 10%, bringing a wave of green across the market.
Among the top-performing altcoins, XRP and Hedera (HBAR) are stealing the spotlight with impressive 11% gains. What’s particularly interesting is that these rallies come right after both tokens bounced from key long-term support levels.
Could This Pattern Signal a Bullish Reversal?
A closer look at the charts reveals that both XRP and HBAR had strong rallies in late 2024 before entering a sharp corrective phase. This correction shaped into what’s known as a broadening top formation—a structure that typically indicates increasing volatility and market indecision, often followed by major directional moves.
After forming multiple highs and lows within this broadening pattern, both tokens revisited their lower support trendlines during the Black Monday sell-off. XRP found strong support at around $1.61, while HBAR dropped to as low as $0.1249. Interestingly, both assets showed strong bullish reactions from these levels, with XRP now trading around $2.01 and HBAR recovering to $0.17.
The price action so far suggests that if XRP and HBAR continue to respect this pattern, a bullish reversal could be in the making. A move above their next resistance levels, which are aligned with the 50-day and 100-day moving averages, would likely confirm a more sustained uptrend. For XRP, reclaiming the $2.30–$2.50 zone will be key, while HBAR needs to break through the $0.23–$0.25 area to strengthen the bullish case.
What’s Next?
Momentum is building, but confirmation is still needed. If XRP and HBAR manage to break above their moving average resistances with solid volume, it could mark the beginning of a new upward leg for both tokens. As the broader market turns cautiously optimistic, these two altcoins are now among the top to watch for potential breakout moves in the coming days.
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