Portnoy Buys $1M XRP, $750K BTC & $400K ETH in Market Dip
Barstool Sports founder Dave Portnoy has reinforced his crypto portfolio during a market dip, purchasing $1 million in XRP, $750 000 in Bitcoin (BTC) and $400 000 in Ethereum (ETH). Portnoy previously sold his XRP holdings at $2.40 in July, just before XRP surged to $3.60. He now sees XRP trading around $2.10 as a buy-the-dip opportunity and has adopted a long-term hold strategy. His aggressive accumulation highlights growing whale interest and may signal bullish momentum for XRP and the wider crypto market.
Bullish
Portnoy’s large-scale accumulation of XRP at a dip underscores strong buying demand from a high-profile investor, often a bullish signal that can drive short-term price support. His buy-the-dip and hold approach may inspire other traders to accumulate, boosting market confidence and trading volumes. Long-term, sustained whale interest tends to underpin upward momentum, suggesting a positive outlook for XRP price stability and growth.