Dave Portnoy, founder of Barstool Sports, has expressed deep regret after selling all his XRP holdings just days before the token experienced a major rally. In a video posted to his X (formerly Twitter) account on Thursday night, Portnoy appeared visibly frustrated. Lying in bed, he delivered a short, pained message: “I sold my XRP two weeks ago. No further comments at this time.”
The crypto asset has since reached a record high of $3.65, surpassing its previous peak of $3.40 set back in 2018. Portnoy admitted he sold his holdings at $2.40, missing out on significant profits. He revealed that the decision was based on advice from the same person who initially encouraged him to invest in XRP. That advisor had warned him of potential competition from Circle, the issuer of the USDC stablecoin, which has gained market attention following a successful public listing.
Unfortunately for Portnoy, the value of XRP soared more than 60% after his exit. Expressing his frustration in the video, he said, “I would’ve made millions, and I want to cry.” He concluded by acknowledging his departure from the XRP community despite once being one of its vocal supporters: “I don’t own it anymore, even though I was the leader of the ‘XRP Army.’ I sold it. Goodnight.”
The XRP Army refers to an active and devoted base of XRP enthusiasts who champion the asset across social media platforms. The video, which has already surpassed 2.7 million views, drew widespread reactions from the crypto community.
One well-known XRP holder on X, who goes by MackAttackXRP, criticised the move, calling it “stupid” and describing Portnoy as someone who thrives on attention. MackAttack also suggested XRP could climb to $27, advising investors to hold their positions.
Crypto analyst CrediBull Crypto chimed in as well, remarking that anyone selling based on headlines or advice from others might be relying on the wrong sources. He cautioned against emotional decision-making driven by market noise.
Others echoed the idea that market psychology is often the biggest hurdle in crypto investing. One user pointed out that resisting the urge to act on short-term trends or chatter can be what separates winners from those who exit too soon.
This isn’t the first time Portnoy has publicly lamented a trading decision. Back in 2021, he confessed to losing money after panic-selling Bitcoin in 2020. He’s also dabbled in various memecoins, especially those launched on Solana, some of which he promoted.
Since former President Donald Trump returned to office in November, XRP has surged over 600%. Much of the asset’s rise is linked to Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission, a case that has drawn major attention across the crypto industry.
