Critical XRP Warning: Analyst Flags Biggest Reason To Sell
28 Novembre 2024 - 11:00AM
NEWSBTC
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. Related Reading: Shiba Inu Eyes Explosive Growth:
Over 200% Surge Ahead, Analyst Says 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. Related Reading: $15 Trillion Market Cap For
Bitcoin? Crypto Firm CEO Predicts Explosive Growth 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
SHIBA INU (COIN:SHIBUSD)
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