Macro investor and former Goldman Sachs executive Raoul Pal has expressed a strongly bullish outlook on XRP, citing a compelling technical pattern on the cryptocurrency’s long-term chart. In a recent analysis, Pal highlighted a “massive seven-year wedge” that has recently been broken, suggesting significant upside potential.
“If you look at the weekly chart for XRP, it’s a stunner,” Pal stated. “This massive seven-year wedge is broken, who knows where this chart goes to? It’s very powerful.”
Pal’s analysis emphasizes the series of wedges that have formed on the XRP chart over the past seven years. He believes that the recent breakout from this long-term pattern signals a significant shift in momentum and could propel XRP to much higher price levels. While acknowledging that market predictions are not always accurate, Pal’s enthusiasm for XRP’s technical setup is evident.
Interestingly, Pal also compared XRP’s chart to that of Sui (SUI), another cryptocurrency, suggesting that Sui might even outperform XRP. He offered this comparison as further context for his bullish perspective on the overall market, highlighting the potential for significant gains in various altcoins.
