On the real, it’s a wrap
Crooked is explaining that his previous bar about kiling women and children isn’t real, because it’s a rap (verse).
He follows that by saying “on the real” it’s a “wrap.”
Basically this means that he isn’t literally killing people, because it’s a rap, but when it comes to actually rapping, it really is a wrap, meaning its over because Crooked I is so much better than other rappers.
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