Millionaire Dave Portnoy ditches XRP at $2.4, now wants to cry as it pumps 50%
Key Takeaways
- Dave Portnoy sold his XRP at $2.40, missing out on a 60% price surge.
- Portnoy expressed regret over his decision to sell and no longer owns XRP.
Barstool Sports founder Dave Portnoy revealed he exited his XRP position at $2.4 two weeks ago, missing out on a 50% rally as the token hit a record high of $3.6 on Thursday.
“I sold XRP when it went up to $2.40because 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.”
XRP was trading at $3.4 at press time, up around 25% in the last seven days, CoinGecko data shows. Its market capitalization has exceeded $200 billion , solidifying its status as the third-largest crypto asset.
The token’s price rally followed recent US legislative advancements, including the passage of the GENIUS Act, which is expected to benefit Ripple’s stablecoin, RLUSD.
Concurrently, President Trump’s potential executive order could open the US $9 trillion retirement market to crypto assets, enhancing market conditions for XRP and other crypto assets.
Portnoy previously faced controversies for his handling of the meme coin GREED , which he developed and then liquidated all in one day, causing its value to drop by 99%. Following GREED’s crash, he went on launching GREED2.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AI stocks fuel global market rally, Nasdaq 100 futures jump 1.5%
Rising expectations of Fed rate hikes trigger a wave of US Treasury sell-offs! Japanese bonds follow suit, 10-year yields approach 2.8%
Due to the higher-than-expected US October CPI data, the market increased its bets that the Federal Reserve may need to take more aggressive rate hikes. US Treasury bonds were sold off on Tuesday, and Japanese government bonds followed the overnight decline in the US Treasury market on Wednesday.
U.S. inflation remains “persistently high”! Goldman Sachs changes its stance: The Federal Reserve’s rate hike cycle is not over yet, another 25 basis points increase possible in March next year
Higher-than-expected US October CPI data released on Tuesday prompted Goldman Sachs to revise its previous forecast that the Fed’s current rate hike cycle would end in December. The Wall Street financial giant now expects the Fed to raise interest rates by another 25 basis points in March next year.
Crypto prices
More
