Dave Portnoy Abandons XRP Ahead of $2, Citing One Key Reason

Dave Portnoy, founder of Barstool Sports, revealed that he plans to liquidate his XRP holdings upon reaching the $1.40 level, rather than waiting for the speculative $2 target. The businessman explained that he requires immediate liquidity to participate in the Saratoga and Cleveland thoroughbred horse auctions scheduled for August, setting aside long-term holding to secure quick operational profits.

I need crypto to skyrocket so I can buy more horses #DDTG pic.twitter.com/ZLg8uoKFvK

— Dave Portnoy (@stoolpresidente) July 23, 2026

Portnoy’s decision responds to the need to reverse previous losses in his crypto portfolio, estimated between $3 million and $5 million during market downturns. However, this technical target strategically coincides with the 200-day moving average on the XRP/USD chart. This level acts as a solid resistance barrier where traders typically close positions, making an immediate breakthrough difficult without a correction.

Currently, the asset is trading near $1.10 after overcoming recent fluctuations. While the community debates potential larger rallies, the investor’s strategy aims to take profits at the first major technical obstacle before reassessing the market.

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