American Investor Devastated After Selling XRP Days Before Peak
Dave Portnoy, founder of Barstool Sports, says he’s “ready to cry” after selling most of his XRP holdings—just before the altcoin hit an all-time high.
In a video posted to X, Portnoy shared his frustration. He admitted that holding onto his position would have earned him millions.
Sold at $2.40, Missed Out on Millions
Portnoy sold his XRP at $2.40 amid concerns about competition from Circle’s stablecoin. Shortly after, XRP surged to a new all-time high of $3.65.
Previously, speaking at Consensus 2025, Portnoy said he bought XRP due to FOMO, without strong conviction in its long-term potential. His story reflects a broader pattern across retail investors who often enter crypto markets driven by fear of missing out.
Many, like Portnoy, end up making emotional decisions without assessing the fundamentals.
In hindsight, he underestimated XRP’s growth potential during a volatile but bullish market phase.
XRP Rally Fueled by Policy Tailwinds
XRP’s recent rally is part of a broader market uptrend. The token surged 5% in 24 hours, breaking its previous high of $3.40 to reach $3.65.
Much of the momentum stems from growing investor optimism after major crypto legislations, including the GENIUS Act, were passed in the US on July 9. The Congressional approval of multiple pro-crypto bills boosted sentiment and inflows across the digital asset space.
XRP perpetual futures open interest also hit a record $8.8 billion, reflecting renewed institutional activity.
This favorable regulatory momentum could cement XRP’s position as a leading token—especially if adoption continues to grow globally.
Meanwhile, attorney Fred Rispoli, a vocal XRP supporter, commented on Portnoy’s misstep.
“While it’s certainly admirable that Dave is on board with the best team in college football, his paper hands always come back to haunt him in crypto. He’s essentially the Ohio State of crypto,” Rispoli wrote on X.
As XRP builds strength, investors are now watching regulatory developments closely. Any further progress in legislation could significantly shape the token’s future.
With rising market cap and growing mainstream acceptance, XRP stands out as one of the most closely watched assets in the crypto space.
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