Barstool Sports Founder Dave Portnoy Expresses Regret Over Timing of XRP Sale
Barstool Sports founder Dave Portnoy is expressing regret over selling most of his XRP holdings just weeks before the cryptocurrency reached new year-to-date highs.
“I would’ve made millions, and I want to cry. I don’t own it anymore, even though I was the leader of the XRP army,” Portnoy stated in a video posted to X Thursday.
His comments came shortly after XRP surged past its yearly high of $3.29, reaching $3.60 according to Nansen data—a 19.61% gain over the preceding 24 hours at the time of publication.
Dave Portnoy Explains XRP Exit
Portnoy cited advice from his point of purchase as the reason for his decision to sell XRP at around $2.40:
“I sold XRP when it went up to $2.40 because the guy that told me to buy it told me to sell it because he thought Circle would compete with them and was unhappy with it.”
On July 2, Ripple Labs—associated with the XRP token—applied for a national bank charter in the U.S., following Circle’s similar application just two days prior.
Speaking at Consensus 2025, Portnoy confessed to having no “grand belief” in XRP, explaining his purchase was driven by fear of missing out (FOMO), banking on the possibility that it would emulate Bitcoin’s success.
Crypto Market Rally Driven by Legislative Developments
Thursday’s XRP rally was part of a broader market upswing that began July 9 following Bitcoin’s price surpassing $112,000, recapturing a previous high.
CoinGlass data showed approximately $68.16 million in XRP short positions liquidated over the past 24 hours.
In parliamentary developments, the U.S. House of Representatives passed three cryptocurrency bills Thursday:
Digital Asset Market Clarity (CLARITY Act): 294-134
Guiding and Establishing National Innovation for US Stablecoins (GENIUS Act): 308-122
Anti-CBDC Surveillance State Act: 219-210
— This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
