Sky's The Limit (11-1) continued Ireland's domination of Cheltenham 2006 by giving them their sixth winner of the meeting in the Coral Cup.
Geraghty brought Edward O'Grady's grey with a strong run to head Inch Pride before the last and romp home by four lengths from compatriot Strangely Brown.
Dom D'Orgeval was three-quarters of a length away in third, with Phar Bleu fourth and Verasi fifth.
There was drama at the second-last where All Star ran out, while McCoy appeared to have a lucky escape when falling from No Where To Hyde at the final flight.
"He had a great run up the inner and jumped brilliantly - I was always going to hack up," said Geraghty.
He travelled brilliantly and hacked up. O'Grady, who has now had 16 Festival winners, said: "I just did what I had to
do to try and win the race. I've said all along that the ground is slow enough for soft ground horses and fast enough for good ground horses.
Unless horses want complete extremes I think the ground is in very good condition.
