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- #Gate 2025 Semi-Year Community Gala# voting is in progress! 🔥
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Dave Portnoy Sold His XRP Two Weeks Ago: 'I Want to Cry'
Barstool Sports founder, Dave Portnoy, is blaming himself for selling most of his XRP just weeks before the cryptocurrency hit its highest level of the year on Thursday. "I could have made millions of dollars, and I want to cry. I no longer own it, even though I was once the leader of the XRP army," Portnoy said in a video posted on X on Thursday. His comments came right after XRP ( XRP ) surpassed its yearly high of $3.29 and surged to $3.60, marking a 19.61% increase in the past 24 hours at the time of publication, according to data from Nansen. Dave Portnoy Expresses Deep Regret When Selling XRP At A Price Of $2.40 Portnoy explained: "I sold XRP when the price rose to $2.40 because the person who told me to buy it told me to sell because he thinks Circle will compete with them and is not happy about that."
On July 2, Ripple Labs, the company affiliated with the XRP token, applied for a national banking license in the United States, just two days after the company that issued the Circle stablecoin did the same. At Consensus 2025, Portnoy admitted that he does not have a "great belief" in XRP; he bought it out of fear of FOMO, in case it turns into the next Bitcoin ( BTC ). The Cryptocurrency Market Grows Thanks to Positive News About Cryptocurrency Laws According to data from CoinGlass, the XRP price surge on Thursday saw approximately $68.16 million in XRP sell positions liquidated in the past 24 hours. This event took place as part of the overall price increase of the cryptocurrency market that began on July 9, after Bitcoin surpassed the May high of $112,000. However, Thursday witnessed a highlight moment for the industry, following a series of legislative victories in the U.S. House of Representatives. In a House session on Thursday, lawmakers voted 294-134 to pass the Digital Asset Market Transparency Act (CLARITY), a bill aimed at establishing a market framework for cryptocurrency; 308-122 in favor of the National Stablecoin Innovation Act of 2023 (GENIUS); and 219-210 in favor of the State Oversight Against CBDC Act.