Macro guru Raoul Pal says that while XRP looks very strong, one Solana (SOL) killer will outperform it.
In a new strategy session, Pal looks at Sui vs. now in play.
“Another interesting chart that I really like is XRP [which] has been super strong, but what we have actually seen is the upward trend of SUI’s outperformance. We have reached the bottom of the trend channel and will likely outperform XRP again in that continued relative outperformance in the future. That’s not to say XRP is going down, I’m just giving you the perspective of these cross-prices to understand the nuance of markets.”
Real Vision’s CEO says something similar is happening on the SUI/SOL map. According to Pal, SUI/SOL has completed an inverse head and shoulder on the weekly chart and is in the midst of confirming a breakout after printing the second shoulder.
“The other thing I look at is I look at the cross rates between different cryptos to try to pick the strongest one. I have already shown that Solana is very strong and expect it to go higher and higher.
But when I compare SUI to Solana, it starts to break this inverse head-and-shoulders pattern, which makes me think I would move more assets from Solana to Sui. That doesn’t mean Solana will go down. In fact, I think Solana does extremely well and you should be overweight there because it is a second cycle, a better proven protocol, while SUI is newer and riskier.
But it looks like the alpha will come from the new token, the new executor of SUI.”
At the time of writing, SUI is trading at $4.18.