XRP and the majority of other major altcoins have been able to develop firmly bullish market structures over the past few weeks, which has been driven by the massive 2020 uptrend that the crypto market is currently caught within.<\/p>\n
XRP \u2013 which is currently coming off of an incredibly rough 2019 \u2013 has been able to gain a solid foothold within the $0.20 region and is beginning to incur a confluence of bullish technical factors.<\/p>\n
One analyst believes that these factors could help propel the cryptocurrency up towards its 2019 highs against its Bitcoin trading pair.<\/p>\n
At the time of writing, XRP<\/a> is trading down marginally at its current price of $0.232, which marks a slight decline from its daily highs of $0.235 that were set prior to an early morning sell-off that sent the crypto reeling to lows of $0.22.<\/p>\n Bulls were able to post a strong defense of this level, signaling that they still have strength in spite of its recent rejection at $0.25.<\/p>\n The cryptocurrency\u2019s recent uptrend has come about in tandem with the upswings seen by Bitcoin<\/a>, Ethereum, and most major altcoins, as it has developed a strong correlation with the aggregated markets<\/a>.<\/p>\n This correlation, however, could soon break as its technical strength begins shaping up.<\/p>\n One analyst on Twitter who goes by the name CJ, recently told his 12k followers that he is watching for a break above XRP\u2019s midrange equilibrium (EQ) as a potential catalyst for a significant movement to as high as $0.40.<\/p>\n \u201cXRP – Current view,\u201d he said while pointing to a chart showing his aforementioned target.<\/p><\/blockquote>\n $XRP<\/a> – Current view pic.twitter.com\/45tgPErUFN<\/a><\/p>\n — CJ (@CJ900X) January 19, 2020<\/a><\/p><\/blockquote>\n\n