Cripps and fellow midfielder Sam Walsh starred in the Blues' thrilling 12.16 (88) to 12.12 (84) victory at the MCG on Friday night.
Cripps had 30 disposals and eight clearances, Walsh had 30 and seven, and young gun Jagga Smith (27 and six) also shone, while Will Hayward kicked three goals.
It was the Blues' third win from as many games with Fraser at the helm after former coach Michael Voss was sacked this month, improving their season record to 4-8.
Cripps stood up in the dying stages, soaring above Jeremy Cameron to mark close to goal and put Carlton in front for the final time.
"Sometimes you've just got to take your moment," Cripps told the Seven Network post-match.
Geelong (8-4) could slip out of the top four by the end of the round despite the efforts of Bailey Smith (35 disposals), Max Homes (25 touches) and Cameron (four goals).
The Cats started stronger and were controversially denied the opening goal when Ollie Dempsey shinned one through on the line.
A behind was signalled and Dempsey was denied what should have been a major when the ball was brought quickly back into play before a video replay was allowed.
Geelong's wingman left no doubt about a later shot with a superb snap under pressure on the outside of his right boot.
It was the Cats' fourth consecutive goal in the opening term, giving them a 19-point lead at quarter-time.
But the second quarter was all Carlton, who gradually made their territorial dominance count on the scoreboard as they cut the margin back to five points by the main break.
Flynn Young kicked two goals in the second term and was only denied a third by a finger when replays showed his snap-shot was touched off the boot.
Carlton hit the front at the two-minute mark of the third quarter when George Hewett was taken high by Smith and converted his free kick.
It was the first of three lead changes for the term and the teams went goal for goal in the final term until Jack Henry gave the Cats the lead with a quick snap at a stoppage with less than three minutes to play.
But the Blues had a little left in the tank and reclaimed the lead when Cripps put them back in front with 70 seconds left to play.
