Former Goldman Sachs Executive Sees One Memecoin Repeating XRP’s Explosive Gains After Bullish Setup
Former Goldman Sachs executive Raoul Pal is leaning bullish on the flagship memecoin amid the rise of XRP by more than 5x over the past 30 days. Pal tells his 1.1 million followers on the social media platform X Dogecoin (DOGE) is sporting a wedge pattern on the monthly chart and could be headed for gains that “look similar in potential magnitude” to those of XRP. A wedge pattern is characterized by converging trend lines and is considered bullish if price breaks out from above the upper trendline. “ Insane banana chart.” Source: Raoul Pal/X A “Banana” chart or zone is a metaphor Pal uses to describe a bullish period for crypto assets where a rapid increase in prices occurs in the shape of the yellow fruit or a parabola. Dogecoin is trading at $0.404 at time of writing, up by around 172% over the past 30 days. Turning to XRP, Pal says that the third-largest crypto asset by market cap has broken out of the wedge pattern on the monthly time frame. “Last t...