XRP has been one of the most prominent beneficiaries of the recent market surge, rising significantly from $0.5031 on November 5 to a three-year high of $1.6334 on November 23. This represents a 224% increase in just a few weeks. However, as the price continues to fluctuate, some market experts are closely watching potential signals that might indicate the peak of this rally. According to XRP community analyst EGRAG, the biggest sell signal for XRP would be a surprising endorsement from American TV personality Jim Cramer.

EGRAG’s Sell Signal Theory

EGRAG, a well-known XRP community commentator, humorously shared his thoughts on a potential sell signal for XRP. He claims that if Jim Cramer, the CNBC Mad Money host, were to speak positively about XRP and suggest that investors should buy the cryptocurrency, it would be a sign that the uptrend has reached its peak. EGRAG believes that Cramer’s endorsement would mark the top of the rally, prompting him to sell his holdings. Though his theory is a bit tongue-in-cheek, it reflects the influence Cramer has had on markets in the past.

The idea stems from the fact that when Cramer publicly endorses a cryptocurrency, the markets tend to react negatively. EGRAG is drawing a parallel to past occurrences, such as when Cramer’s recommendation of Bitcoin led to a sharp correction. The analyst’s suggestion might seem humorous, but it highlights the skepticism some traders have towards Cramer’s opinions, especially when it comes to timing market movements.

XRP’s Recent Rally

XRP’s rally has been nothing short of impressive. Following the U.S. elections on November 5, XRP surged past its previous resistance levels, breaking $1.30 and then surpassing the $1.60 mark by November 23. Despite a slight correction in the following days, the token has maintained a position above $1, showing resilience even in the face of broader market pullbacks. Currently trading around $1.30, XRP remains firmly above key support levels, signaling that its upward momentum is not over yet.

Key Resistance and Support Levels

EGRAG has also pointed out critical support and resistance levels in XRP’s price action. He highlighted that the rally began around the $0.75 mark, which he now considers a key support level. XRP’s current price range between $1.30 and $1.60 is closely watched, as these levels align with the Fibonacci Channel’s 0.236 level, indicating potential for further growth. If XRP can break this resistance and continue its upward trend, it may reach as high as $2, approaching the 2021 peak of $1.96.

EGRAG remains optimistic about XRP’s prospects, predicting that a breakthrough above the $1.60 resistance could trigger a wave of FOMO (fear of missing out) from investors, driving the price even higher. He also notes that if XRP reaches the 0.5 Fibonacci level, the price could surge to double digits, though such a move would require favorable market catalysts, such as positive news or a significant event.

The Cramer Effect on Bitcoin and XRP

Interestingly, the recent correction in the broader market seems to coincide with Cramer’s endorsement of Bitcoin. A few days ago, Cramer recommended that investors buy Bitcoin, calling it a “winner.” This endorsement came when Bitcoin was approaching its all-time high of $99,800. Since then, Bitcoin has experienced a significant price drop, with the asset losing over $130 billion in market cap. This event has led many in the crypto community to wonder if Cramer’s influence may have triggered a market correction, especially considering the history of Bitcoin’s price movements following his comments.

EGRAG’s theory about XRP highlights the importance of market sentiment and timing in cryptocurrency investments. While a Cramer endorsement could signal a top for XRP, for now, the analyst remains confident that the altcoin’s rally is far from over.

Conclusion

EGRAG’s lighthearted warning about Jim Cramer’s influence on XRP prices adds an interesting layer of caution for traders watching the market. Despite the humorous undertones, the theory touches on a legitimate concern: market timing and external factors, including influential figures like Cramer, can often play a significant role in triggering market movements. For now, XRP’s uptrend remains strong, and investors will be watching key levels and signals, including the possibility of a breakout past $1.60, to determine where the price might go next.