Veteran Trader Gary Cardone Exits XRP at $2.71, Liquidating $80K Portfolio

Gary Cardone, a seasoned finance veteran with over four decades of experience, recently announced his decision to sell his entire XRP position at $2.71, liquidating a portfolio worth approximately $80,000. In a tweet, Cardone shared his reasons for exiting the token, drawing from his time-tested investment principles.

Cardone's tweet included a screenshot of his sale, showing that he had offloaded 30,000 XRP at the aforementioned price. He expressed his well-wishes for the XRP community, stating, "I genuinely hope the XRP army gets stupid rich. I don’t think you will, but my best hopium is out to each of you." The principles that guided Cardone's choice were:

• Rule One: If the supply/demand dynamics are unclear and you don’t have a serious edge, stay out.
• Rule Two: If others can’t explain it clearly or draw it on a whiteboard, avoid it.
• Rule Three: Don’t trust people who know the price of everything but the value of nothing.
• Rule Four: Don’t confuse short-term market noise with long-term investment goals.
• Rule Five: True wealth comes from long-term, consolidated bets and investments.
• Rule Six: Never follow the crowd — always trust your own judgment.

Despite Cardone's clear reasoning, his decision was met with criticism from some in the crypto community. The host of the Good Morning Crypto show commented, "Anyone can do as they please, time will tell if this was the right decision. Blurring the fee on this tells me you understand the use case." Another critic responded, "Most of us don’t need to understand how the phone works internally, we just need to know the basics." They went on to suggest that XRP and XLM are poised to become the "banker’s tokens," implying that these assets may still have long-term potential despite Cardone’s exit.