XRP News Today: Dave Portnoy Misses Out on Millions After Selling XRP Before 50% Surge

Dave Portnoy, the founder of Barstool Sports, recently disclosed that he sold his XRP holdings at $2.4 approximately two weeks ago, just before the cryptocurrency experienced a significant 50% surge, reaching a record high of $3.6 on Thursday. Portnoy, who has a substantial following of 3.7 million on X, admitted that he made the decision to sell based on advice from an individual who had initially recommended the purchase. This person suggested selling due to concerns about competition from Circle and dissatisfaction with the current situation.

Portnoy expressed regret over his decision, stating that he would have made millions if he had held onto his XRP. He acknowledged his previous role as a prominent advocate for XRP but admitted that he no longer owns any of the cryptocurrency. Despite his exit, XRP has continued to perform strongly, with its price increasing by around 25% over the past week. At the time of reporting, XRP was trading at $3.4, and its market capitalization had surpassed $200 billion, securing its position as the third-largest cryptocurrency by market capitalization.

The recent price rally of XRP can be attributed to several factors, including legislative advancements in the United States. The passage of the GENIUS Act is expected to benefit Ripple’s stablecoin, RLUSD, which could further boost the value of XRP. Additionally, there is speculation that an executive order from President Trump could open the US $9 trillion retirement market to cryptocurrency assets, potentially enhancing market conditions for XRP and other cryptocurrencies.