Dave Portnoy Regrets Selling XRP as Price Surges 50%
Portnoy's XRP Regret: A Missed Opportunity
Barstool Sports founder Dave Portnoy recently shared his regret after selling his XRP holdings at $2.40, just before the token experienced a significant rally. XRP reached a record high of $3.60 on Thursday, marking a 50% surge that Portnoy missed.
"I sold XRP when it went up to $2.40 because the guy who told me to buy it told me that I should sell it because he thought Circle would compete with them, and he was unhappy with it," Portnoy admitted in a video to his 3.7 million followers on X.
"I would have made millions, and I want to cry, and I don’t own it anymore," he added. "Even though I was like the leader of the XRP army, I sold it."
At press time, XRP was trading at $3.40, up approximately 25% over the past week, according to CoinGecko data. The token's market capitalization has exceeded $200 billion, cementing its position as the third-largest cryptocurrency.
Factors Driving XRP's Price Rally
Several factors contributed to XRP's recent price increase:
- Legislative Advancements: The passage of the GENIUS Act in the U.S. is expected to positively impact Ripple’s stablecoin, RLUSD.
- Potential Executive Order: President Trump's potential executive order could open the U.S. $9 trillion retirement market to crypto assets, benefiting XRP and other cryptocurrencies.
Past Controversies: Portnoy and GREED Token
Portnoy has previously faced criticism for his handling of the meme coin GREED, which he launched and liquidated within a single day, causing a 99% value drop. He subsequently launched GREED2 following the initial crash.
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