The crypto market’s volatility has hit Barstool CEO Dave Portnoy severely, as his single XRP investment decision has put him in a major loss. The Ripple token has been on a bullish trajectory in the last few days. And at one point, Portnoy made a decision that cost him millions in profits.
Dave Portnoy Sells His XRP Right Before the ATH Rally
With the potential Altcoin Season underway and significant developments, XRP has seen massive price gains these days. Investors have been pumped on this rally, including Dave Portnoy, until he decided to sell his Ripple holdings.
In an X post, Barstool CEO revealed that he has sold most of his Ripple tokens at just $2.40 and missed out on a 60% rally, which happened after his selling. As the House approved the GENIUS bill, the tokens gained a massive uptrend, reaching a seven-year high at $3.60.
- Source: X, Dave Portnoy Post
Portnoy expressed regret and sadness over this decision. He even added that despite people addressing him as the leader of this token’s community, and his previous $2.3M investment, he had sold two weeks ago. More importantly, added that “I want to cry,” but did not want to lie to his people and ended up with this confession.
The crypto community has a mixed reaction to this; some laughed off this action, while others advised him to get back to trading, as more is coming. Interestingly, one even jokes that the price surge is thanks to his selling.
Why Did Dave Portnoy Sell XRP?
In the shared post itself, Portnoy revealed that the individual who suggested this digital asset advised him to sell. The advice is based on the potential competition from the Tether tablecoin issuer, Circle.
With Ripple’s RLUSD launch, the two have become active competitors. Now, with the upcoming stablecoin regulation, uncertainty is rising in terms of future performance. Although Portnoy sold, many analysts do not acknowledge this analysis.
Remember, the GENIUS Act will rapidly accelerate XRP’s reintegration into U.S financial markets which will support its price by attracting institutional investors.🔑
Documented.📝💨 pic.twitter.com/dMsoL8GC8X
— SMQKE (@SMQKEDQG) July 16, 2025
Experts claim that Ripple is prepared for these changes with its application for a national trust bank charter, master account, and more.
Frequently Asked Questions (FAQs)
Dave Portnoy missed a 60% price rally as XRP surged from $2.40 to 7 seven-year high of $3.60.
Portnoy sold on his advisor’s advice, who predicted tough competition from Circle.
XRP price is up due to the U.S. House of Representatives approving the GENIUS Act.
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section.
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