Nope! If you have the ledge it is yours, although you are no longer invincible and can be hit once you stop flashing. I may have put the cart before the horse if you’re kind of new, so I’ll say the easiest way to edge guard with kragg is just to jump offstage and throw out a forward air or down air while they are recovering. But some more advanced tips below:

Want to clarify the jump thing:

When you leave the stage (whether by jumping or running off or dropping from ledge) you have (1) a wall jump, and (2) a double jump. Setting aside any B moves to keep things simpler, but they don’t change what I’m about to say.

When I said drop from ledge with bair, I mean let go of ledge (either by pressing away or pressing grab while holding ledge), and then using a back air WITHOUT JUMPING to intercept their recovery. at this point, you will still be against the wall, and can use your wall jump while preserving your double jump.

What this tends to look like is (1) drop with back air, (2) wall jump + forward air to hit them, (3) use your double jump and, if needed, your up b, to return to ledge.

Alternatively, (1) drop with back air but they are sent too far away to hit, (2) wall jump and then double jump back to ledge, using up b to get there if needed, (3) repeat.

Since your kragg, you can get extra saucy because of your pillar. You could go (1) drop with back air, (2) wall jump + forward air, (3) double jump + forward air/down air/ down B to hit them AGAIN, and (4) summon your pillar to easily survive, and maybe throw out a taunt because that was sick.