'Mad Money' host Jim Cramer is a popular voice in cryptocurrency and blockchain discussions, but for slightly different reasons. For a long time, the host's comments and insights on Bitcoin and the cryptocurrency industry have often been a source for some people's buy or sell decisions. However, Cramer's influence on cryptocurrency (in this case, XRP) is quite the opposite: when Cramer talks about it, it is a 'sell signal' for most people. This is exactly how one market analyst views the potential catalyst for driving XRP's price movements.
According to cryptocurrency analyst EGRAG Crypto, if the host makes positive comments about XRP, it indicates his 'sell signal'. The analyst added that his comments mark the asset's peak price, which may end its bullish momentum.
XRP remains stable, holding at the $1 level
Although Bitcoin continues to dominate the market and attempts to break the $100,000 mark, XRP is taking action. A few days before the U.S. elections, XRP's price was moving sideways, fluctuating between $0.55 and $0.54.
Then, starting from election day, its price began to rise, starting at $0.5031 and breaking the $1 mark on November 16 last year. On November 23 last year, XRP hit a new high of $1.6335 in three years, with an increase of 220% in three weeks.
Starting from November 24, XRP's price began to decline again, showing signs of a pullback. Ripple has been in the red for four consecutive trading days, marking the first time in nearly two months. Although the asset 'slightly pulled back in price', XRP has consolidated above $1, currently trading at $1.4.
Sales based on Cramer's insights?
Ripple's XRP is one of the best-performing tokens in the recent market. In the past week, XRP has risen by 26%, while Bitcoin's increase during the same period was only 0.45%. As XRP shows strong consolidation at the $1 level, EGRAG jokingly mentioned that once Cramer shares his thoughts and views, SRP will begin to lose its market momentum.
According to EGRAG, the biggest sell signal for XRP occurs when host Cramer starts talking about XRP and recommends this token to new investors. This cryptocurrency commentator further shared that Cramer's attention to XRP prompted his exit from the market, but at the same time, he was riding the wave of a bull market.
Cramer's historical comments on BTC and cryptocurrency
Cramer continuously provides insights about Bitcoin and cryptocurrency through his Mad Money show. However, this host is famous for his insights and recommendations, which promise the opposite results. For example, in the first few days of January 2024, Cramer suddenly called Bitcoin a technological marvel after he had dismissed it for years. Before he made his insights public, BTC was trading at $45,000, but once the public saw this news, BTC’s trading price quickly fell to $41,000.
Cryptocurrency holders and analysts describe this situation as 'Cramer reverse'. This principle of cryptocurrency investing is easy to follow — just do the opposite of what Cramer suggests. Now, according to EGRAG, the same situation may also occur with Ripple's XRP. If Cramer decides to promote XRP, this is EGRAG's sell signal, and XRP's price will drop.