Barstool Sports founder Dave Portnoy is blaming himself for selling most of his XRP just weeks before the cryptocurrency reached its yearly high 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 just 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 Nansen data.
Dave Portnoy Expresses Deep Regret for Selling XRP at $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 as he thought Circle would compete with them and was not happy about it."
On July 2, Ripple Labs, the company associated with the XRP token, filed for a national banking charter in the U.S., just two days after the company issued a stablecoin, Circle, doing the same.
At Consensus 2025, Portnoy admitted he does not have "great faith" in XRP; he bought it out of FOMO, just in case it turned out to be the next Bitcoin (BTC).
The Cryptocurrency Market Grows Thanks to Positive News About Cryptocurrency Laws
According to CoinGlass data, the XRP price surge on Thursday saw about $68.16 million in XRP short positions liquidated in the past 24 hours.
This event occurred as part of the overall cryptocurrency market rally that began on July 9, after Bitcoin surpassed its May high of $112,000.
However, Thursday witnessed a standout moment for the industry, following a series of legislative wins in the U.S. House of Representatives.
In the House session on Thursday, lawmakers voted 294-134 to pass the Digital Asset Market Transparency Act (CLARITY), a bill aimed at establishing a market structure for cryptocurrency; 308-122 supported the U.S. Stablecoin Innovation and Regulatory Act (GENIUS); and 219-210 supported the State Oversight Against CBDC Act.
