- Dave Portnoy regrets selling XRP just before massive price surge.
- XRP futures hit record $8.8B amid rising market momentum.
- Over 47 billion XRP now held by large investor wallets.
Barstool Sports founder Dave Portnoy has expressed strong regret for selling his XRP holdings just weeks before the token surged by more than 60 percent. In a short video posted on X to his 3.7 million followers, Portnoy admitted the decision was based on advice from someone who had originally encouraged him to invest in the asset.
According to Portnoy, the same person who initially urged him to buy XRP later expressed concerns over its outlook, prompting him to sell when the price reached $2.40. Since then, the price of XRP has increased by a large margin to reach a new high of $3.65, more than 60% above his selling price.
Portnoy confessed that the missed profits would have totaled in the millions. The self acclaimed leader of the XRP army claims that he no longer owns any XRP and further states that he “wants to cry” due to the lost opportunity.
Also Read: This Similar Payment Token Has Outperformed XRP Beyond the Hype – Here’s How Much it Jumped
Portnoy’s Missed Millions After $1M XRP Investment
Earlier reports revealed that Portnoy had invested heavily in XRP over recent months. In December 2024, during a livestream, he disclosed owning $1.3 million worth of XRP alongside $1.5 million in Bitcoin.
He followed it up by investing another 1 million in XRP in February, implying at the time that he intended to keep the asset.
I sold my $xrp 2 weeks ago. No further comments at this time. pic.twitter.com/Vae18UPsZo
— Dave Portnoy (@stoolpresidente) July 18, 2025
He said that XRP was capable of multiplying ten times, a performance which he did not think would be achievable by Bitcoin in the future. This conviction was a key factor in his decision to enter the XRP market, but he abandoned that stance just two weeks before the sharp rally.
XRP Surges on Market Momentum and Regulatory Shifts
XRP’s rally follows strong market sentiment and positive regulatory news in the United States. On July 2, Ripple Labs filed for a national bank charter just days after stablecoin issuer Circle did the same.
These moves came amid rising expectations of more straightforward regulatory guidelines for digital assets.
Also, three major crypto-related bills were signed in the U.S. House of Representatives this week. The Digital Asset Market Clarity (CLARITY) Act, the GENIUS Act to spur stablecoin innovation, and the Anti-CBDC Surveillance State Act all passed with slight majorities.
Such legislative action has increased market confidence, and this has attracted broad-based profits.
Due to the price increase of XRP, more than $68 million worth of short positions were also liquidated. During the recent rally, its market capitalization reached above the all-time high of more than $200 billion, at $215 billion.
XRP Futures Market Sets New Record Amid Broader Market Surge
As XRP gained momentum, its futures market also reached a new high. On Wednesday, notional open interest in XRP perpetual futures hit $8.8 billion, surpassing the $8.3 billion record set in January and representing nearly 2.9 billion XRP in leveraged contracts.
The broader market also surged after Bitcoin crossed $112,000 on July 9, pushing crypto’s total market cap toward $4 trillion and triggering the liquidation of over $68 million in XRP short positions.
Meanwhile, the number of wallets holding at least 1 million XRP hit a record, collectively controlling more than 47.32 billion tokens, reflecting long-term confidence among major holders.
Conclusion
Dave Portnoy’s decision to exit his XRP position just before a significant rally has turned into a multimillion-dollar misstep. With XRP nearing its all-time high and gaining fresh momentum, his case reflects the unpredictable and emotional nature of the cryptocurrency market.
Also Read: Bitcoin (BTC) Steadies at $120K as XRP, Dogecoin (DOGE) Lead Gains in Altcoin Market Shake-Up
