28 November 2024
Jim Cramer, the “Mad Money” host, is a welcome voice in crypto and blockchain discussions, but for a slightly different reason. For a long time, the hosts’ comments and insights on Bitcoin and the crypto industry have often been a source of buying or selling decisions for some. However, Cramer’s effect on crypto, and in this case XRP, is the exact opposite: when Cramer talks about it, it’s a “sell signal” for most. And that’s precisely what one market analyst thinks about the potential catalyst that will push XRP’s price action.
According to crypto analyst EGRAG Crypto, if the host talks positively about XRP, it acts as his “sell signal.” The analyst added that his comment marks the asset’s top price, potentially ending its bullish run.
XRP Remains Solid, Consolidating At $1
Although Bitcoin continues to dominate the markets as it tries to break the $100k mark, Ripple’s XRP is making its move. Days before the US elections, XRP’s price was in a sideways movement, ranging from $0.55 to $0.54.
#XRP – Sell Signal
:
When this guy starts talking about #XRP and the importance of owning it, and trading it and storing it.
This is my sell signal until then ride the waves. pic.twitter.com/rmazMF5cc5
— EGRAG CRYPTO (@egragcrypto) November 25, 2024
Then, starting on election day, its price started to increase, from $0.5031, and it broke the $1 mark last November 16th. And last November 23rd, XRP hits its three-year high at $1.6335, reflecting a 220% increase in three weeks.
Starting November 24th, XRP’s price began to dip again, showing signs of correction. Ripple’s token has been in the red for four consecutive trading days, the first time in almost two months. Despite the asset’s “minor price correction,” XRP has consolidated above the $1 level and currently trades at $1.4.
Sell According To Cramer’s Insights?
Ripple’s XRP has been one of the best-performing tokens in the market recently. It has increased by 26% in the past week, compared to Bitcoin’s increase of just 0.45% in the same period. With XRP showing a strong consolidation in the $1 level, EGRAG playfully mentioned that SRP will start to lose its market momentum once Cramer shares his thoughts and opinions.
According to EGRAG, XRP’s biggest sell signal occurs when host Cramer starts talking about XRP and recommends this token to new investors. The crypto commentator further shared that Cramer’s attention on XRP triggers his exit from the market, but in the meantime, he’s riding the bullish wave.
Cramer’s History Of Comments On BTC And Crypto
Cramer consistently provides insights on Bitcoin and crypto through his Mad Money show. However, the host gained prominence for his insights and recommendations that promised the opposite. For example, during the first few days of January 2024, Cramer suddenly called Bitcoin a technological marvel after years of dismissing the asset. Before making his insights public, BTC traded at $45k, but it soon dipped to $41k after the public consumed the news.
Crypto holders and analysts have described this scenario as the “Cramer Inverse.” This crypto investing principle is easy to follow—just do the opposite of what Cramer recommends. Now, according to EGRAG, the same scenario can happen to Ripple’s XRP. If Cramer decides to promote XRP, it’s EGRAG’s sign to sell, and XRP’s price will fall.
Featured image from DALL-E, chart from TradingView