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Cryptocurrency Millionaire Raoul Pal Declares That the 7-Year Formation in the Major Altcoin Has Been Broken: "Amazing"
Renowned macro investor and CEO of Real Vision, Raoul Pal, expressed strong optimism about XRP by pointing out a major breakout in the long-term price chart.
In a recent market analysis, Pal highlighted the bullish technical formations around cryptocurrency and described its performance on the weekly chart as "amazing".
According to Pal, XRP has broken out of a seven-year massive wedge formation, which could indicate a significant upward momentum. Pal said, "Look at the weekly chart of XRP; it's amazing," and added, "This seven-year massive wedge has been broken. Who knows where this chart will go?"
Pal pointed out the recurring wedge formations in XRP's price history, indicating that XRP consistently forms similar patterns before reaching higher levels. Suggesting that XRP's rally may still be in its early stages, he added, 'We're currently building another wedge ready for the next upswing.'
While XRP is rising, Pal noted that other cryptocurrencies like Sui may outperform XRP in the near future. Comparing the two, Pal observed that Sui seems to be gaining interest based on its own charts compared to XRP.