Raoul Pal, a well-known market analyst and former Goldman Sachs executive, believes the cryptocurrency Sui (SUI) is poised for significant growth, potentially outperforming even the strong-performing XRP and Solana.
Sui’s Rise Against XRP
Pal highlighted the SUI/XRP trading pair, noting its upward trend within a long-term ascending channel. He suggests the pair has bottomed out, setting the stage for a move towards the upper channel range. While acknowledging XRP’s strength, Pal emphasized Sui’s superior relative performance. He clarified that this doesn’t necessarily mean XRP will decline, but rather that Sui is expected to outperform it.
Sui’s Potential Against Solana
Pal also analyzed the SUI/SOL chart, identifying a completed inverse head and shoulders pattern on the weekly chart. This pattern, he argues, signals a potential breakout, suggesting a shift of assets from Solana to Sui might be a smart move. He stressed that this isn’t a bearish prediction for Solana; instead, he views Solana as a more established and less risky investment. However, he believes Sui offers higher potential returns (“alpha”) due to its novelty.
The Bottom Line
In short, Pal sees Sui as a promising cryptocurrency with the potential to outperform both XRP and Solana, although he acknowledges the higher risk associated with newer cryptocurrencies. He advises investors to conduct their own research before making any investment decisions. Sui is currently trading around $4.18.
