A well-known cryptocurrency has been named, the value of which may increase by 70% in the near future

According to cryptocurrency analysts, the price of the XRP token has recovered somewhat in recent days, which is indicative of positive sentiment. This gives reason to expect that the value of XRP will continue to grow. RLinda expert suggested that the cryptocurrency should grow by 70%.

In an analysis published on the TradingView website, the RLinda crypto analyst outlined a number of reasons why the XRP price could be preparing to jump. One of them is the fact that the altcoin has passed a false breakout.

We are talking about a price crash that led to a drop in the value of XRP from $ 0.7 to $ 0.42, which is almost a 50% drop. However, the crypto analyst believes that this collapse was bullish for the coin because it was a false breakout followed by a breakout.

In such scenarios, the XRP price could be headed for a breakout similar to the breakdown and subsequent recovery between August and November 2023. In such a case, the price could rise by 50% with a maximum increase of up to 70%.

In addition, the XRP price is also in a long-term consolidation, which is another factor that could contribute to this breakout. «XRPUSDT is forming a technical false breakout of support, and in the long term, consolidation above the zone should form in order to continue growth, the potential of which can be unlocked by 50−70% ,» the analyst said.