Barstool Sports founder Dave Portnoy offers further insights into his recent panic sale of XRP, which resulted in him missing out on substantial gains.
This follows Portnoy’s post on X less than a week ago, in which he lamented selling his XRP position too soon and missing its 60% rally. In a recent livestream, Portnoy claimed to have approximately $3 million worth of XRP.
Liquidated XRP Holdings on False Sell Signal
While XRP’s price hovered around $2 weeks ago, Portnoy said he had planned to hold it through the volatility, expecting a future rally.
However, his intention to liquidate his XRP position came after the individual who had initially convinced him to invest in XRP texted him, “No good news. Circle would do what XRP is doing.”
Portnoy, who admitted not understanding the message, wondered whether he was advising him to sell his XRP holdings. Faced with uncertainty, he decided to sell his entire XRP holdings when the price soared to $2.4 per token.
XRP Went Parabolic After Sale
Shortly after the sale, XRP’s price went “parabolic,” soaring to $3.5. This represents a surge of 45.83% from the $2.4 price region where Portnoy sold his XRP holdings.
Notably, XRP eventually reached a multi-year target of $3.65 on July 18, 2025. Watching XRP as it rallies massively and missing out on huge gains, Portnoy said it made him “sick in his stomach.”
Despite claiming to be doing well in Bitcoin and Ethereum, possibly seeing profits in both assets, he said it still hurts to sell XRP at a lower rate.
Initial Conviction in XRP
Meanwhile, Portnoy believed in XRP’s upside potential, suggesting that the token could become the next Bitcoin. According to him, the price of XRP could easily soar 10x and grow to unprecedented levels.
Based on this conviction in XRP, Portnoy had hope to hold the token for the long term and not trade it anytime soon. However, he panicked at his friend’s sudden message, which ultimately led him to sell his XRP too soon —a decision he regrets to date.
Since Portnoy first revealed this sale, prominent XRP influencers have been warning investors not to miss substantial returns by selling the token too soon. For instance, JackTheRippler stated that it is always too early to sell XRP but never too late to buy the token.
The price of XRP has declined by 2.28% over the past 24 hours, currently standing at $3.49. Despite this slight retracement, XRP remains up 24.01% over the past seven days.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
