“Mad Money” host Jim Cramer is a welcome voice in the cryptocurrency and blockchain debate, but for slightly different reasons. For a long time, the hosts’ opinions and insights on Bitcoin and the cryptocurrency industry have often been the source of some people’s buying or selling decisions. However, Cramer’s impact on cryptocurrencies and in this case XRP is quite the opposite. When Cramer talks about this, most of the time it’s a “sell signal.” And this is what one market analyst thinks is a potential catalyst for XRP’s price action.
According to cryptocurrency analyst EGRAG Crypto, when a host speaks positively about XRP, this acts as a “sell signal” for the host. The analyst added that his opinion marks a new high for the asset and could potentially halt the bull run.
XRP remains solid and consolidates at $1.
Bitcoin continues to dominate the market as it tries to break the $100,000 mark, but Ripple’s XRP is making a move. A few days before the US election, the price of XRP was trading sideways between $0.55 and $0.54.
#XRP – sell signals
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When this person starts talking #XRP And the importance of owning, trading and storing it.
This is my sell signal until I ride the wave. pic.twitter.com/rmazMF5cc5
— EGRAG Cryptocurrency (@egragcrypto) November 25, 2024
Then, starting from Election Day, the price began to rise from $0.5031, and broke the $1 mark on November 16th. And on November 23, XRP hit a three-year high of $1.6335, up 220% in three weeks.
Starting on November 24, the price of XRP began to fall again, showing signs of a correction. Ripple’s token recorded four consecutive trading days in the red for the first time in nearly two months. Despite a “minor price correction” in the asset, XRP has consolidated above the $1 level and is currently trading at $1.4.
Would you sell on Cramer’s insights?
Ripple’s XRP has been one of the best-performing tokens on the market recently. During the same period, Bitcoin only increased by 0.45%, but last week it increased by 26%. With XRP showing strong consolidation at the $1 level, EGRAG playfully noted that SRP will start losing market momentum once Cramer shares his thoughts and opinions.
According to EGRAG, the biggest sell signal for XRP occurs when host Cramer starts talking about XRP and recommending this token to new investors. The cryptocurrency commentator added that Cramer’s interest in XRP prompted his exit from the market, but in the meantime, he is riding strong.
Cramer’s Commentary on BTC and Cryptocurrencies
Cramer continues to provide insight into Bitcoin and cryptocurrencies through his Mad Money show. But hosts have a reputation for insight and recommendations that promise the opposite. For example, in the first few days of January 2024, Cramer suddenly called Bitcoin a technological marvel after years of dumping the asset. Before making his insights public, BTC was trading at $45,000, but soon fell to $41,000 after the public heard the news.
Cryptocurrency holders and analysts have described this scenario as the “Cramer Inverse.” These cryptocurrency investment principles are easy to follow. Just do the opposite of what Cramer recommends. Now, according to EGRAG, the same scenario could happen with Ripple’s XRP. If Cramer decides to promote XRP, it will be a sell signal for EGRAG and the price of XRP will fall.
Featured image of DALL-E, chart by TradingView