Dave Portnoy, the founder of Barstool Sports, shared details about his unfortunate XRP sale during a live show called Davey Day Trader Global (DDTG Global) early this Monday.
The controversial 48-year-old trader claims that he initially had no intention of selling it, but the person who advised him to buy the token from the start recently sent him a surprisingly negative message.
He claims Circle will do "what XRP is doing," which is seen as a negative development for this token. This person may be referring to the USDC issuer's involvement in the cross-border remittance space with the launch of the Circle Payments Network (CPN) in May.
After that conversion, Portnoy decided to exit his XRP position when the token was trading at around $2.4.
Previously, the Barstool Sports founder admitted that he wanted to cry when XRP finally reached an all-time high last week.
Portnoy claims he has about $3 million worth of XRP tokens, meaning he missed out on a huge profit.
"What I mean is, I'm still doing well with Bitcoin and ETH (clearly), but it's painful," he added.
According to CoinGecko data, XRP is currently trading at $3.56 after reaching a new all-time high of $3.65 four days ago.