XRP was able to secure some remarkable momentum in December 2019 despite exhibiting one of the worst performances last year. The gains accrued last month permitted its <a href="https://coinmarketcap.com/currencies/xrp/">price</a> to be established around the $0.20 zone.

However, in the near-term, analysts said the price is over a crucial level that buyers need to secure. However, several <a href="https://www.cryptoknowmics.com/crypto/ripple-xrp-retracing-a-confluence-of-bullish-technical-factors/">technical</a> factors are pointing to a rally to its past established all-time highs soon.

At press time, the price of XRP was on the upside at $0.234, representing a slight surge from daily lows below $0.23. Within the previous week, XRP bounced from lows of below $0.22 but did not meet the performance of BTC which is trying to break solidly into the $9k zone.

Regarding the near-term performance of XRP, a renowned crypto analyst, Jacob Canfield, explained in a tweet that XRP needs to remain over a crucial support level beneath its current BTC price, and more declines could ensue if it fails to bounce.

Despite that, it seems XRP is currently in an unstable position, it is noteworthy that an analyst known as TradingShot explained recently that he thinks the crypto may be positioned for a move back towards its all-time highs.

According to TradingShot, his thoughts are backed by numerous bullish factors that include a bullish moving average golden cross, its LMACD rolling over, and a few other technical factors. The coming through of such factors could make XRP aim at a move to new all-time highs of more than $3.50.

Nevertheless, such a move would likely need BTC as well as other altcoins to also make a huge upwards movement in tandem.

XRP May Experience a Parabolic Rally Towards All-Time Highs

XRP was able to secure some remarkable momentum in December 2019 despite exhibiting one of the worst performances last year

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

XRP May Experience a Parabolic Rally Towards All-Time Highs

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