A prominent crypto analyst has updated his ASO analysis and it now points to an impending bull run for XRP.
EGRAG CRYPTO (@egragcrypto), a popular crypto analyst, recently shared an interesting post on X, updating his former analysis of the Average Sentiment Oscillator (ASO) for XRP. The ASO is a vital technical indicator used by investors and traders to predict the direction of any asset.
This post was an update to his previous post on July 8, where he showed the ASO chart. The “Alligator Jaw,” as he calls it, is slowly converging. This convergence of the red and blue lines in the chart is called a bullish cross.
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According to his analysis, in two out of the last four times this convergence has happened, XRP has gone on a massive surge upward. He expects another one when the next bullish cross surfaces.
#XRP ASO "Average Sentiment Oscillator" (UPDATE):
I urge you to check out the post dated June 17 here [https://t.co/nMSNl2Dsxd]
The ASO, or "Alligator Jaw" as I call it, is gradually converging, and historical data clearly indicates that every #Bullish crossover is followed by… pic.twitter.com/fSGEYAtOAz
— EGRAG CRYPTO (@egragcrypto) July 8, 2023
Is XRP Going to the Moon?
A bullish cross typically indicates a shift in momentum from bearish to bullish. Traders often interpret this as a strong buying opportunity. A bullish cross here could be the spark that ignites the next bull run and the charts tell us why.
According to the charts, the first bullish cross brought a remarkable 55,000% surge in price. This was followed by another bullish cross where nothing happened. However, the next one that followed came with a 1,500% price jump. Following this was another bullish cross that brought nothing.
The pattern here is very clear. The first one brought a bull run, the third one brought the same and now, the fifth one is expected to do the same. However, there was a small pause a short while ago which brought some concern. His update was to show that this was over and both lines were on the path to crossing each other again.
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The XRP Community’s Excitement
This development has brought a lot of excitement to the XRP community. A user on X stated in his reply that he had been watching the 100 MA (Moving Average) and 21 EMA (Exponential Moving Average) charts and they show similar signs of an impending bullish cross. We reported on a similar story where an expert predicted a 28,250% surge for this same ASO bullish cross.
A member of the community replied, asking EGRAG CRYPTO to explain it like he was talking to a five-year-old. EGRAG CRYPTO, in his reply, put it as simply as it could be, saying, “We will go to the moon.”
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