Blog

Renowned crypto analyst EGRAG Crypto has unveiled a recent XRP value prediction, introducing the neighborhood to a less-known indicator, the “Average Sentiment Oscillator” or ASO. Commenting on its significance, EGRAG explained on Twitter at this time: “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!”

Here’s When The Next XRP Bull Run Could Start

From the chart introduced by EGRAG, the convergence of the blue line (representing bulls) and the crimson line (representing bears) is obvious. By demarcating a yellow field on this chart, EGRAG anticipates the bullish crossover to manifest between the conclusion of 2023 and the graduation of the second half of 2024.

Historical knowledge reveals that XRP has already undergone this bullish crossover on two prior events. The first, in 2017, witnessed a meteoric 55,000% rise in XRP’s value. The subsequent incidence, spanning late 2020 to April 2021, noticed XRP respect by a commendable 1500%. EGRAG underscores the magnitude of the present state of affairs by noting the presence of “the largest jaw” ever, resulting in hypothesis that the following XRP rally may dwarf earlier ones.

EGRAG’s September replace introduced substantial insights, underscoring the notable shift within the ASO and the build-up of simple momentum in direction of the bullish cross. In his phrases, “there’s an undeniable momentum building towards that coveted bullish cross.”

First, EGRAG had outlined the oscillator’s outstanding potential in March, describing it because the harbinger of a monumental bullish setup, showcasing the depth of market volatility and the contrasting power/weak point of an asset. He emphasised, “The Mother of all #Bullish Set-Ups is upon us,” pointing to the spectacular setups constructing in each the three Weeks Time Frame (TF) and Monthly TF.

A Deep Dive Into ASO

The ASO serves as a momentum oscillator, offering averaged percentages of bull/bear sentiment. This software is really useful for precisely gauging the sentiment throughout a selected candle interval, aiding in development filtering or figuring out entry/exit factors.

Conceptualized by Benjamin Joshua Nash and tailored from the MT4 model, the ASO employs two algorithms. While the primary algorithm evaluates the bullish/bearish nature of particular person bars primarily based on OHLC costs earlier than averaging them, the second assesses the sentiment share by contemplating a bunch of bars as a single entity.

The ASO shows Bulls % with a blue line and Bears % with a crimson line. The dominance of sentiment is represented by the elevated line. A crossover on the 50% centreline signifies an influence shift between bulls and bears, providing potential entry or exit factors. This is especially efficacious when the common quantity is important.

Further insights could be derived by observing the power of traits or swings. For occasion, a blue peak surpassing its previous crimson one. Any divergence, like a second bullish peak registering decreased power on the oscillator however ascending within the value chart, is clearly seen.

By setting thresholds on the 70% and 30% marks, the oscillator can perform equally to Stochastic or RSI for buying and selling overbought/oversold ranges. As with many indicators, a shorter interval gives superior indicators whereas an extended interval reduces the probability of false alerts.

At press time, XRP traded at $0.5097.

Featured picture from ShutterStock, chart from TradingView.com