Former Goldman Sachs executive Raoul Pal is bullish on the flagship memecoin given XRP’s rise of more than five-fold in the last 30 days.

Pal tells his 1.1 million followers on the social media platform that X Dogecoin (DOGE) is exhibiting a wedge pattern on the monthly chart and could be heading for gains “similar in potential magnitude to those of XRP.”

A wedge pattern is characterized by converging trendlines and is considered bullish when the price breaks out above the upper trendline.

“Insane banana diagram.”

A “banana” chart or “banana” zone is a metaphor used by Pal to describe an upward phase for crypto assets in which a rapid increase in price occurs in the form of a yellow fruit or a parabola.

Dogecoin is trading at $0.404 at the time of writing, up about 172% in the last 30 days.

Looking at XRP, Pal says the third-largest crypto asset by market cap has broken out of the wedge pattern on the monthly time frame.

“Last time it (XRP) broke out of a long wedge pattern and rose another 5,600%! (Of course it won’t repeat itself, but you understand, it can rise sharply.)”

XRP is trading at $2.57 at the time of writing, up around 424% in the last 30 days.

Looking at Sui (SUI), the former Goldman Sachs executive says the 21st largest crypto asset by market cap is sending a bullish signal over Solana (SOL).

Pal says SUI/SOL has an inverted head and shoulders pattern on the daily timeframe and that he is watching the chart “like a hawk.” An inverted head and shoulders pattern is typically a bullish signal when price breaks out higher.

Sui is trading at 0.0166 SOL ($3.67) at the time of writing.

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