Former Goldman Sachs executive Raoul Pal is bullish on the flagship memecoin, amid XRP’s surge of more than 5x in the past 30 days.
Pal tells his 1.1 million followers on social media platform .
A wedge pattern is characterized by converging trendlines and is considered bullish if the price rises above the upper trendline.
“An insane banana painting.
A “banana” chart or zone is a metaphor Pal uses to describe a bullish period for crypto assets where a rapid increase in price occurs in the shape of a yellow fruit or parabola.
Dogecoin is trading at $0.404 at the time of writing, up approximately 172% over the past 30 days.
As for XRP, Pal claims that the third-largest crypto asset by market capitalization broke out of the wedge pattern on the monthly time frame.
“Last time, XRP broke a long wedge pattern and rose another 5,600%! (I obviously won’t repeat it, but you understand – it can go up a lot.)”
XRP is trading at $2.57 at the time of writing, up approximately 424% over the past 30 days.
As for Sui (SUI), the former Goldman Sachs executive says the 21st crypto asset by market cap is sending a bullish signal against Solana (SOL).
Pal says SUI/SOL is exhibiting an inverse head and shoulders pattern on the daily time frame and he is watching the chart “like a hawk.” An inverted head-and-shoulders pattern is usually a bullish signal if price breaks out higher.
Sui is trading at 0.0166 SOL ($3.67) at the time of writing.
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