Prominent investor Dave Portnoy sold his XRP holdings at approximately $2.40 per token following advice from an advisor expressing concerns about Circle, issuer of the USDC stablecoin. This decision preceded XRP’s dramatic surge to an all-time high of $3.65 per token.
The price rally is widely attributed to renewed investor confidence stemming from the resolution of Ripple’s prolonged legal dispute with the U.S. Securities and Exchange Commission. This settlement alleviated regulatory uncertainties that had previously weighed on the cryptocurrency.
Portnoy’s experience underscores critical risks in cryptocurrency trading, including impulsive actions driven by ambiguous market advice. His reliance on advisory input — specifically his ‘XRP guy’ — highlights how unverified guidance can lead to significant missed opportunities during market shifts.
Concurrently, XRP’s market capitalization reached $215.5 billion, surpassing the valuation of global fast-food giant McDonald’s. This positions XRP as the world’s 83rd largest asset class, reflecting substantial growth and intensified investor interest following its legal clarity.