What to Know:
- Dave Portnoy hinted at buying the XRP dip, alongside purchasing Bitcoin and Ethereum.
- Portnoy previously sold a large XRP holding, later regretting the decision after a significant price surge.
- XRP is currently benefiting from the ETF hype, driving renewed investor interest.
Dave Portnoy, co-founder of Barstool Sports, has signaled renewed interest in XRP, hinting at buying the dip. This move comes alongside purchases of Bitcoin (BTC) and Ethereum (ETH), indicating a broader crypto strategy. Portnoy’s past experiences with XRP have been notable, marked by both profit and regret.
Portnoy’s trading style involves making bets rather than engaging in active, long-term trading. Earlier this year, he sold a substantial amount of XRP after expressing concerns about competition from Circle/USDC. His regret was public, especially after XRP experienced a 60% surge following his sale.
XRP is currently trading at $2.24, reflecting an 8% surge over the last 24 hours. The cryptocurrency is gaining momentum from the broader ETF hype following recent major launches. This positive sentiment explains Portnoy’s renewed interest and potential investment.
The potential for increased institutional adoption through ETFs and evolving regulations continue to shape the crypto landscape. Investors and traders are closely monitoring these developments, anticipating further market movements. XRP, along with Bitcoin and other major cryptocurrencies, remains a key focus for those looking to capitalize on these trends.
Source: Original article
