Key Takeaways:
- Dave Portnoy sold XRP at $2.40 before it surged to $3.60, missing a potential multi-million-dollar gain.
- Ripple’s application for a U.S. national bank charter coincided with XRP’s rally and broader crypto market momentum.
- The rally led to $68.16 million in XRP short liquidations and came alongside U.S. House passage of key crypto legislation.
Dave Portnoy, founder of Barstool Sports, expressed deep regret after selling most of his XRP holdings shortly before a major rally.
In a video posted on X, he revealed he sold at $2.40 based on advice from a friend who believed Ripple would face competition from Circle.
I sold my $xrp 2 weeks ago. No further comments at this time. pic.twitter.com/Vae18UPsZo
— Dave Portnoy (@stoolpresidente) July 18, 2025
XRP soon surged to a yearly high of $3.60 – a 19.61% gain in 24 hours – leaving Portnoy lamenting he “would’ve made millions.”
He admitted at Consensus 2025 that his XRP investment was driven by FOMO rather than conviction, hoping it might be “the next Bitcoin.”
The rally triggered roughly $68.16 million in XRP short liquidations, according to CoinGlass. XRP’s surge coincided with broader crypto market gains starting July 9, when Bitcoin broke its May high of $112,000.
The rise also came amid Ripple’s application for a U.S. national bank charter, filed on July 2, just after Circle made a similar move.
Adding to the momentum, the U.S. House passed three major crypto bills: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act, signaling growing regulatory support for digital assets.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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