• Analyst Forecasts 28,250% Surge in XRP Price
• Average Sentiment Oscillator (ASO) Indicator Used to Make Prediction
• Bullish Cross Between 21 Weekly EMA and 100 Weekly MA Expected
XRP’s Astonishing Rally Predicted
A respected cryptocurrency enthusiast and XRP trader, Egrag Crypto, has predicted that the Ripple-backed digital asset is poised to rally to a three-figure target in the next bull market. The bold XRP forecast is based on a technical indicator called the Average Sentiment Oscillator (ASO), also known as the Alligator Jaw. According to historical data analysis, Egrag Cryoto concluded that the XRP price is preparing for a major breakout, despite the recent price correction fueled by Bitcoin’s dump.
28,250% Surge Expected
The analyst came up with their prediction by averaging out two previous pumps: A 2021 pump of 1500 percent and a 2017 pump of 55k percent. This suggests that if similar conditions are met again, then XRP could surge an astonishing 28,250%. They also highlighted an incoming bullish cross between the 21 Weekly EMA and 100 Weekly MA as further evidence of this macro-bullish outlook.
Regulatory Clarity Boosting Institutional Demand
The demand for XRP has been rising due to increasing institutional interest following clearer regulations surrounding cryptocurrencies. On-chain data shows deep-pocketed investors have delved deeper into the market in preparation for future growth prospects. This sentiment was recently compounded when SEC lost a court case against Ripple labs which provided clarity on what kind of activities constitute securities under US law.
Short Term Bearishness Ignored
Despite short term bearish sentiment caused by other factors in the market, Egrag Crypto urged holders not to get distracted from preparing for this macro bull run. They believe it is only a matter of time before it materializes given all the evidence gathered so far from technical indicators and institutional activity.
Egrag Crypto’s analysis suggests that XRP will experience an astronomical surge if similar conditions from past pumps are met again soon enough given current levels of institutional demand and regulatory clarity. Whether or not their predictions come true remains to be seen but it is clear that there is potential for significant gains down the line if all goes according to plan.