A cable protection system protects a cable, such as an insulated conductor, data line, fluid or gas conduit, power cord, communication line or the like. The cable passes through a pair of ferrules that are separated by a segment of the cable. A protective jacket made of braided metal strands or the like encloses the ferrules and the cable segment and is held in place to the ferrules by jacket securing means. In one embodiment, support collars surround a portion of the braided jacket and a portion of each ferrule so that the braided jacket is securely held between each ferrule and support collar combination when a loading force, such as a gravitational loading or suspension force, is applied to the cable segment, typically in an axial orientation. The braided jacket has a diameter that constricts when an axial loading force is applied, protecting the cable segment from damaging stress by gripping the ferrules and the cable segment. A generally even compressive force can be applied along the cable length in some embodiments, which prevents undesirable stretching or other damage to the cable segment.