These are the identical words an angel had announced in Revelation 14:8. Now this angel with great authority repeats these same words to sum up the obvious consequence of the implication of Revelation 17:1–18: Babylon (with her allies—the beast she was riding with its heads and horns) made war on the Lamb “and the Lamb will conquer them, for he is Lord of lords and King of kings” (Revelation 17:14). Someone who is “conquered” is obviously “fallen,” dethroned, now powerless. In this instance it is even more the case because her allies have turned on her in hatred and devoured her and burned her. Her “fallenness” means she is finished; her greatness no longer exists.
2 And he called out with a mighty voice, “Fallen, fallen is Babylon the great! She has become a dwelling place for demons, a haunt for every unclean spirit, a haunt for every unclean bird, a haunt for every unclean and detestable beast.