Dave Portnoy Upset Over Selling XRP Amid Price Surge

Barstool Sports founder Dave Portnoy is kicking himself for selling off most of his XRP just weeks before the cryptocurrency reached new year-to-date highs on Thursday.

“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 said in a video posted to X on Thursday.

His comments came shortly after XRP (XRP) broke its yearly high of $3.29 and surged to $3.60, marking a 19.61% gain in the past 24 hours at the time of publication, according to Nansen data.

Dave Portnoy expresses deep regret about selling XRP at $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,” Portnoy explained. 

On July 2, Ripple Labs, which is associated with the XRP token, applied for a national bank charter in the United States, just two days after stablecoin issuer Circle did the same.

At Consensus 2025, Portnoy admitted he didn’t have “some grand belief” in XRP; he bought it out of FOMO, just in case it turned into the next Bitcoin (BTC).

Crypto market rallies on positive crypto legislation news

Thursday’s XRP rally saw approximately $68.16 million in XRP short positions liquidated over the past 24 hours, according to CoinGlass data. 

It came as part of a broader crypto market upswing that began on July 9, after Bitcoin surged past its May high of $112,000. 

Related: XRP is about to hit $200B market cap for first time; price nears record

However, Thursday saw a standout moment for the industry, following a series of legislative wins in the US House of Representatives.

In a Thursday House session, lawmakers voted 294-134 to pass the Digital Asset Market Clarity (CLARITY) Act, a bill aimed at establishing a market structure for cryptocurrencies; 308-122 in favor of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act; and 219-210 for the Anti-CBDC Surveillance State Act.

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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.