Renowned macro investor Raoul Pal shared his insights on XRP's potential price increases, based on technical analysis and current trends.
Technical Setup Suggests Upward Momentum
According to Pal, XRP’s recent price movements align with the characteristics of a bull flag pattern, indicating potential bullish continuation. This pattern includes a sharp upward movement followed by a period of price consolidation, and a breakout from this zone often signals resuming an upward trend.
XRP entered this consolidation range following a significant rally between November 2024 and January 2025, during which the price rose from $0.50 to a seven-year high of $3.40, marking a 580% increase.
Pal's Optimism Despite Consolidation
Despite XRP’s recent subdued performance, Pal remains optimistic. He noted that while XRP has registered lower highs recently, indicating some bearish control, the broader technical setup supports a potential breakout.
Although Pal disclosed that he does not currently hold XRP, he acknowledged the strength of the chart pattern, stating that it points to potential upside in the near term. His change in stance follows a significant rally driven by U.S. President Donald Trump’s election victory in November 2024.
Estimating the Breakout Target
While Pal did not specify a precise price target, standard technical analysis offers a way to project potential outcomes. In bull flag formations, breakout targets are calculated by adding the length of the flagpole to the price at which the breakout occurs.
Given the initial rally's $2.90 increase, and assuming a breakout above the current resistance level of $2.60, the implied target would be approximately $5.50. With XRP currently trading at $2.32, achieving this target would require a gain of about 138%.
Raoul Pal’s analysis adds to the growing expectations that XRP may soon resume its upward trajectory, given it breaks above crucial resistance levels.
