Barstool Sports founder Dave Portnoy recently revealed that he had sold his entire XRP holdings two weeks before a recent rally.
Portnoy claims that he dumped XRP at $2.40 because the person who originally recommended to him to buy it claimed that USDC issuer Circle would compete with Ripple.
"It's up 60% since I sold it, and I would have made millions, and I want to cry," Portnoy added.
Portnoy has confirmed that he no longer holds the XRP token despite previously being a prominent member of the community.
XRP is currently the best-performing token in the top 10 over the past two weeks, surging by more than 38%.
Has XRP actually hit new record high?
Earlier today, XRP surged to a new record peak of $3.65, according to CoinGecko data, before paring some of its gains.
However, some questioned whether the popular altcoin actually hit a new ATH, given that it actually hit $3.84.
In January, Ripple CTO David Schwartz clarified that the aforementioned figure is actually misleading since it included prices from prominent Korean exchanges (such as Upbit and Bithumb). On these exchanges, XRP was trading at a substantial premium. On Western exchanges of the likes of Bitstamp, Kraken and Coinbase, the Ripple-linked coin peaked around $3.30-$3.40, not $3.84. One could not actually buy or sell the token for $3.84 in any meaningful volume unless trading on a Korean exchange.
Hence, it is safe to say that XRP finally reached a new record peak after nearly eight years on Thursday.
Why XRP's peak is not impressive
While XRP has vastly outperformed other major cryptocurrencies over the past year, the token barely managed to surpass the peak from early 2018. For comparison, Bitcoin is up by a whopping 850% compared to its early 2018 peak of roughly $20,000, while Ethereum (ETH) is up by 400%.
"XRP still has a lot of catching up to do..." researcher Leonidas Hadjiloizou noted in a post on X.
Vladislav Sopov
U.Today Editorial Team