Key XRP warning: Analyst reveals the main reason for the sell-off
Jim Cramer of "Mad Money" talks about cryptocurrencies and blockchain, which is a topic king, but the effect is a bit special. Many people decide whether to buy or sell based on his comments. But strangely, when he talks about XRP, everyone is in a hurry to sell. Some analysts have given their opinions on this matter.
EGRAG Crypto analyst said that if Cramer praises XRP, everyone should be careful, as it may be a "sell signal." He also added that when Cramer mentions the price ceiling of this coin, it may be a sign that it will not rise.
XRP sits firmly at the $1 mark
While Bitcoin is busy rushing to $100,000, XRP is not idle either. During the US election, the price of XRP fluctuated between $0.55 and $0.54. But after the election day, it started to gain momentum, rising from $0.5031 to $1, and then hit a new high of $1.6335, a 220% increase in three weeks.
However, since November 24, the price of XRP has pulled back a bit, but fortunately it is still above $1, and is now trading at $1.4.
As soon as Cramer says it, you have to sell?
XRP has been a star in the market recently, rising 26% in a week, while Bitcoin has only risen 0.45%. EGRAG also joked that as soon as Cramer opens his mouth, XRP will fall off the chain.
EGRAG thinks that when Cramer starts talking about XRP and recommends it to new investors, that is the biggest sell signal. He also said that when Cramer pays attention to XRP, it is time to withdraw, but the bull market is not over yet.
Cramer's history of commenting on BTC and cryptocurrencies
Cramer often talks about Bitcoin and cryptocurrencies in "Mad Money". However, his suggestions are often reversed, which makes people laugh and cry. For example, at the beginning of 2024, he suddenly said that Bitcoin was a technological miracle, even though he had always looked down on Bitcoin. As soon as he said that, the price of BTC dropped from $45,000 to $41,000.
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