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Cryptocurrency News Articles

Raoul Pal Says This Solana (SOL) Killer Is Set to Outperform XRP (XRP) Despite Its Recent Strength

Dec 29, 2024 at 08:45 pm

Macro guru Raoul Pal says that despite XRP looking very strong, one Solana (SOL) killer is set to outperform it.

Raoul Pal Says This Solana (SOL) Killer Is Set to Outperform XRP (XRP) Despite Its Recent Strength

Crypto strategist Raoul Pal is keeping a close eye on Solana (SOL) despite his bullish outlook on XRP.

According to Pal, one Solana (SOL) “killer” is poised to outpace XRP, based on his analysis of the trading pairs.

In a new strategy session, the Real Vision CEO examines the SUI/XRP pair, highlighting its extended presence within a rising channel. He notes that SUI is positioned at the lower boundary of the channel, suggesting a potential move toward the upper range.

“Another interesting chart that I quite like is XRP [which] has been super strong, but really, what we’ve seen is the upward trend of SUI outperformance. We hit the bottom of the trend channel and we’re likely to outperform XRP going forward again in that ongoing relative outperformance. That’s not to say XRP goes down, I’m just giving you the perspective of these cross-rates to understand the nuance of markets.”

Pal further adds that a similar dynamic is evident in the SUI/SOL chart. He observes that SUI/SOL is completing an inverse head and shoulders (H&S) pattern on the weekly timeframe, with a breakout being confirmed after the formation of the second shoulder.

“The other thing that I look at is I look at the cross rates between various cryptos to try and pick the strongest one. I’ve already shown that Solana is very strong, and to expect it to keep going higher.

But when I compare SUI against Solana, it’s starting to break out from this inverse head and shoulders pattern, which suggests to me, that I would switch more assets from Solana into Sui. That’s not saying Solana is going to go down. In fact, I think Solana does extremely well and you should be overweighted there because it is a second cycle, more proven protocol while SUI is newer and riskier.

But It looks like the alpha is going to come from the new token, the new performer of SUI.”

At the time of writing, SUI is valued at $4.18.

News source:dailyhodl.com

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