Renowned crypto analyst EGRAG Crypto has introduced a new indicator called the "Average Sentiment Oscillator" (ASO) to predict the price of XRP. EGRAG believes that a bullish cross will occur between 2023 and the second half of 2024, based on historical data. The ASO is a momentum oscillator that gauges bull/bear sentiment and can aid in determining entry/exit points in trading. At present, XRP is trading at $0.5097.
Our analysis of the situation
Renowned crypto analyst EGRAG Crypto has just dropped a bombshell prediction for XRP enthusiasts: brace yourselves for an upcoming bull run! In his latest revelation, EGRAG introduces us to a lesser-known but powerful indicator called the Average Sentiment Oscillator (ASO). Buckle up, fellow crypto enthusiasts, for this could be the spark that ignites an impressive upward surge for XRP.
EGRAG took to Twitter today, excitedly exclaiming, "Exciting ASO Update Alert! Check out the post from September 9th to witness the impressive ascent and curve of the bullish trend! The momentum is ablaze, with an unstoppable surge toward that coveted bullish cross! #XRPArmy, HOLD STEADY! The imminent ASO bullish cross is the spark that will ignite the upcoming XRP bull run!"
So, when can we expect this XRP bull run to kick off? EGRAG's chart suggests that the convergence of the blue line (representing bulls) and the red line (representing bears) is nearing. By marking a yellow box on the chart, EGRAG predicts that the bullish crossover will likely occur between late 2023 and the first half of 2024.
Let's not forget the historical evidence that backs up EGRAG's prediction. XRP has already experienced this bullish crossover twice before. In 2017, XRP's price skyrocketed by a staggering 55,000%! Then, from late 2020 to April 2021, XRP saw a remarkable 1500% increase. With such jaw-dropping numbers, EGRAG hints that this upcoming XRP rally could potentially outshine its predecessors.
EGRAG's September update shed light on the remarkable shift in the ASO, showcasing undeniable momentum building toward that long-awaited bullish cross. "There's an undeniable momentum building towards that coveted bullish cross," he reiterated.
Now let's dive deeper into the ASO itself. It functions as a momentum oscillator, offering average percentages of bullish and bearish sentiment. This tool is perfect for accurately gauging sentiment during specific candle periods, aiding in trend analysis and determining ideal entry/exit points.
Created by Benjamin Joshua Nash and adapted from the MT4 version, the ASO relies on two algorithms. The first algorithm assesses the bullish or bearish nature of individual bars before averaging them, while the second algorithm determines sentiment percentage by treating a group of bars as a single entity.
In the ASO graph, the blue line represents Bulls %, while the red line represents Bears %. The dominance of sentiment is depicted by the higher of the two lines. A crossover at the centerline (50%) signals a shift in power between bulls and bears, potentially indicating entry or exit points. This becomes particularly effective when accompanied by significant average volume.
Furthermore, the oscillator provides additional insights when analyzing trend strength or swings. For example, a blue peak surpassing the previous red peak could indicate a potential upward trend. Divergences, such as a second bullish peak showing reduced strength on the oscillator but ascending on the price chart, are also clearly visible.
By setting thresholds at 70% and 30%, the ASO can function similarly to other popular trading indicators like Stochastic or RSI, helping identify overbought or oversold levels. Remember, shorter periods generate more advanced signals, while longer periods reduce the likelihood of false alarms.
As of now, XRP is trading at $0.5097.
The anticipation is high, and the XRP community waits with bated breath for the ASO bullish cross. Could this be the spark that sets off a colossal XRP rally? Only time will tell.
Disclaimer: The information provided in this article is based on the analysis and predictions of EGRAG Crypto. It should not be considered as financial advice. Always do your own research before making any investment decisions.
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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