Key Takeaways
- • Dave Portnoy exited his XRP position at $2.40 per token approximately two weeks before July 17, 2026, leaving him exposed to subsequent 60% appreciation that he estimated would have generated millions in unrealized gains.
- • XRP surged to $3.64 by the evening of July 17, 2026, shortly after Portnoy publicly disclosed his exit on X, with the cryptocurrency trading near $3.36 at the time of reporting—approximately 12% below its all-time high of $3.84 set in January 2018.
- • Portnoy cited advice from the individual who originally recommended XRP as the rationale for his exit, stating in a July 17 video that he held close to $3 million in XRP before liquidating the position.
- • This marks a recurring pattern for the Barstool Sports founder, who previously acknowledged panic-selling Bitcoin in 2021—a decision that proved costly as Bitcoin subsequently reached $123,091.61 by July 2026.
- • The timing of Portnoy's exit coincided with competitive pressures emerging in the stablecoin and payments space, with both Ripple and Circle Internet Financial (NYSE: CRCL) having applied for national banking licenses with the U.S. Office of the Comptroller of the Currency.
Summary
Dave Portnoy, founder of Barstool Sports, publicly disclosed on July 17, 2026, that he had exited his XRP position approximately two weeks earlier at $2.40 per token. In a video posted to X, Portnoy acknowledged the decision as a significant financial error, stating he held close to $3 million in XRP prior to liquidation. Following his exit, XRP appreciated 60%, reaching $3.64 by the evening of July 17, which Portnoy characterized as a potential multi-million-dollar opportunity cost. "I would've made millions, and I want to cry," he stated in the video. "I don't own it anymore. Even though I was like the leader of the XRP army, I sold it."
Portnoy attributed the exit decision to advice from the individual who had originally recommended the asset to him. The timing of his liquidation proved particularly inopportune, as XRP subsequently rallied to trade near $3.36 at the time of reporting—close to its all-time high of $3.84 established in January 2018. The cryptocurrency's appreciation during this period may reflect market sentiment surrounding competitive developments in the payments and stablecoin sector, including applications for national banking licenses submitted by both Ripple and Circle Internet Financial to the U.S. Office of the Comptroller of the Currency.
This episode reflects a broader pattern in Portnoy's cryptocurrency trading history. In 2021, the Barstool Sports founder disclosed panic-selling Bitcoin at a loss, a decision he later acknowledged as costly given Bitcoin's subsequent appreciation to an all-time high of $123,091.61 by July 14, 2026. The recurring theme of early exits and foregone gains underscores the timing challenges inherent in cryptocurrency markets and the difficulty of maintaining conviction during volatility periods.
Portnoy attributed the exit decision to advice from the individual who had originally recommended the asset to him. The timing of his liquidation proved particularly inopportune, as XRP subsequently rallied to trade near $3.36 at the time of reporting—close to its all-time high of $3.84 established in January 2018. The cryptocurrency's appreciation during this period may reflect market sentiment surrounding competitive developments in the payments and stablecoin sector, including applications for national banking licenses submitted by both Ripple and Circle Internet Financial to the U.S. Office of the Comptroller of the Currency.
This episode reflects a broader pattern in Portnoy's cryptocurrency trading history. In 2021, the Barstool Sports founder disclosed panic-selling Bitcoin at a loss, a decision he later acknowledged as costly given Bitcoin's subsequent appreciation to an all-time high of $123,091.61 by July 14, 2026. The recurring theme of early exits and foregone gains underscores the timing challenges inherent in cryptocurrency markets and the difficulty of maintaining conviction during volatility periods.
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