Critical XRP Warning: Analyst Flags Biggest Reason To Sell
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, Cramers effect on crypto, and in this case XRP, is the exact opposite: when Cramer talks about it, its a sell signal for most. And thats precisely what one market analyst thinks about the potential catalyst that will push XRPs 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 assets 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, Ripples XRP is making its move. Days before the US elections, XRPs 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, XRPs price began to dip again, showing signs of correction. Ripples token has been in the red for four consecutive trading days, the first time in almost two months. Despite the assets minor price correction, XRP has consolidated above the $1 level and currently trades at $1.4.
Sell According To Cramers Insights?
Ripples XRP has been one of the best-performing tokens in the market recently. It has increased by 26% in the past week, compared to Bitcoins 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, XRPs biggest sell signal occurs when host Cramer starts talking about XRP and recommends this token to new investors. The crypto commentator further shared that Cramers attention on XRP triggers his exit from the market, but in the meantime, hes riding the bullish wave.
Cramers History Of Comments On BTC And CryptoCramer 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 followjust do the opposite of what Cramer recommends. Now, according to EGRAG, the same scenario can happen to Ripples XRP. If Cramer decides to promote XRP, its EGRAGs sign to sell, and XRPs price will fall.
Featured image from DALL-E, chart from TradingView
Read more: https://www.newsbtc.com/news/critical-xrp-warning-analyst-flags-biggest-reason-to-sell/
Text source: NewsBTC
