The crypto world is buzzing after Barstool Sports founder Dave Portnoy revealed he sold his XRP at $2.40âjust weeks before the price exploded to a new yearly high of $3.66 on July 18 via Arkham exchange. That costly mistake? A multi-million-dollar loss. đŹ
đŁïž In a now-viral X post, Portnoy admitted he took advice from a friend who told him to sell earlyâwarning that Circle would be a major competitor. Ironically, that same friend also convinced him to buy XRP in the first place. The regret was loud and clear: Portnoy said he felt sick after watching XRP skyrocket post-sale.
đ As the crypto community reacted, John Deaton, pro-XRP lawyer, jumped in to clarify the confusion:
> âXRP doesnât compete with Circleâs USDC. Rippleâs RLUSD stablecoin might, but XRP is a separate asset.â
Deaton also highlighted how many people still confuse Ripple (the company) with XRP (the asset), a mix-up that may have misled Portnoyâs decision.
đ Meanwhile, XRP continues to shine:
+19.61% in just the last 24 hours
+277% over the past year (vs Bitcoinâs 88%)
Getting close to its 2018 all-time high of $3.84
đŻ The momentum is strong despite no approved U.S. spot ETFâyet. That could change soon. On July 18, ProShares launched the Ultra XRP ETF on NYSE Arca, and other giants like Bitwise, Franklin Templeton, and Teucrium have filings pending.
Analyst Kyle ChassĂ© noted that XRPâs rally happened without heavy DeFi support or treasury backing. And according to Dark Defender, a bullish cup and handle pattern has formedâpossibly hinting at another leg up.
â ïž Whether XRP holds or climbs higher, one thingâs clear: itâs firmly back in the spotlight. And for Dave Portnoy? This will likely go down as one of his most expensive crypto regrets.$XRP
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