Renowned macro investor and Real Vision CEO Raoul Pal has expressed strong optimism about XRP, pointing to a major breakout in its long-term price chart.
In a recent market analysis, Pal called its performance on the weekly chart “astounding,” highlighting bullish technical formations forming around the cryptocurrency.
According to Pal, XRP has broken out of a seven-year giant wedge formation, a key technical signal that could signal significant upward momentum. “Look at the weekly chart of XRP, it’s astonishing,” Pal said. “This seven-year giant wedge has broken out. Who knows where this chart is going to go?”
Pal noted the repeated wedge formations in XRP’s price history, noting that XRP has consistently formed similar patterns before breaking higher. “We are currently building another wedge ready for the next high,” he added, suggesting that XRP’s rally may still be in its early stages.
While XRP is on the rise, Pal noted that other cryptocurrencies like Sui could also outperform XRP in the near-term. Comparing the two, Pal observed that Sui appears to be gaining traction over XRP based on its own charts.
*This is not investment advice.
