Market analyst EGRAG CRYPTO (@egragcrypto) has shared a unique perspective on XRP’s current market run. He believes the biggest sell signal for XRP would be a positive endorsement from financial analyst and popular television personality Jim Cramer.
XRP has been on an impressive rally. The digital asset jumped from around $0.5 on November 5 to a three-year peak of $1.6334 on November 23. This represents a massive increase of over 220% in just three weeks.
The cryptocurrency has shown remarkable strength, remaining above the $1 price point after decisively crossing it. Compared to other cryptocurrencies, XRP has outperformed significantly.
It gained more than 26% within a week, while Bitcoin managed only a 0.46% increase during the same period. This remarkable performance raises questions about why EGRAG CRYPTO would set conditions to sell XRP, but recent history backs his reasoning.
Cramer recently endorsed Bitcoin, and shortly after his endorsement, Bitcoin experienced a substantial pullback. The cryptocurrency lost approximately $130 billion in market capitalization, dropping from $99,655 to around $93,100.
This move drew ire from the crypto world, as Cramer’s endorsements have historically preceded massive pullback for assets, and many see his negative predictions as a sign that an asset’s fortune is about to turn around.
Prominent attorney John Deaton weighed in on Bitcoin’s performance, describing its reaction to Cramer’s endorsement as “one of the greatest streaks of all time.”
EGRAG CRYPTO stated that once Cramer speaks positively about XRP, it might signal the top of the current market trend and he noted that it would be his sell signal. For now, he expects the upward momentum to continue.
At the time of press, XRP is trading at $1.56, up 6% in the past 24 hours. This growth coincides with rumors that Donald Trump is considering appointing a crypto czar for his administration. Many experts see Ripple CEO Brad Garlinghouse as the best man for the job, and some prominent voices believe Garlinghouse’s appointment can send XRP to $10.
XRP’s potential for future growth is almost limitless, as the stars seem to have aligned for the digital asset. It is closing in on its 2021 peak of $1.96, and Peter Brandt, a well-respected financial analyst, believes crossing this level would signal the start of a significant rally.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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