Portnoy Just Bought $1 Million Worth of XRP
Analysis
Price Impact
MedDave portnoy's public purchase of $1 million worth of xrp, coupled with his 'buy when there is blood in the streets' quote, could generate significant retail interest and sentiment, potentially counteracting recent institutional outflows.
Trustworthiness
MedThe news reports portnoy's direct actions and statements. while portnoy is a well-known influencer, his past crypto trading track record is inconsistent, making his 'advice' more sentiment-driven than fundamentally sound.
Price Direction
BullishPortnoy's 'buy the dip' strategy and substantial investment are intended to signal a bottom and inspire confidence, potentially attracting more retail buyers and creating upward price momentum despite current etf outflows.
Time Effect
ShortInfluencer-driven sentiment, while powerful in the short term, often requires sustained market conviction or fundamental catalysts for long-term price appreciation. the effect of his purchase might be transient.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News Portnoy's XRP journey XRP ETF losses Advertisement Barstool co-founder Dave Portnoy has revealed that he has purchased another $1 million worth of XRP. The controversial influencer and market commentator also bought roughly $500,000 worth of BTC at $82,000. Quoting famous investor Warren Buffett, Portnoy stated that one has to buy when there is "blood in the streets." HOT Stories XRP Faces Brutal 11,348% Liquidation Imbalance: What Just Happened? Morning Crypto Report: XRP to $126? Abnormal TV Glitch Reveals Ultimate XRP Price Target, Bitcoin to $25,000: Legendary Trader Brandt Reveals Brutal Timeline, Shiba Inu Unlock Hits 41,128,246,331 SHIB on Major Exchange Ex-Ripple CTO: ‘Rational People’ Don’t See $100 XRP Yet Crypto Market Review: Shiba Inu (SHIB): Are There Any Chances? Is XRP Eyeing $1.50? Bitcoin (BTC) Under Bearish Control The Barstool Sports founder and controversial market commentator revealed on Friday that he has purchased $1 million worth of XRP, alongside a $500,000 buy of Bitcoin (BTC) at the $82,000 level. Advertisement Portnoy's XRP journey Portnoy’s relationship with XRP has been particularly peculiar. He has frequently expressed a begrudging respect for the "XRP Army," the token's notoriously vocal online community. You Might Also Like Fri, 01/30/2026 - 10:44 XRP Rockets 100% in Volumes Amid $1.72 Billion Market Crash: Details By Tomiwabold Olajide In mid-2025, Portnoy positioned himself as the self-proclaimed "Leader of the XRP Army." Advertisement In July, he revealed that he had sold his entire XRP position at roughly $2.40, citing bad advice that stablecoin issuer Circle would crush Ripple’s business model. Two weeks later, XRP surged to a new all-time high of $3.66. Unable to stay on the sidelines, Portnoy re-entered the arena in late 2025. In November, he announced a $1 million purchase of XRP (along with BTC and ETH) during a market dip. XRP ETF losses In the meantime, US-based XRP exchange-traded funds suffered a massive exodus of capital on Thursday. According to the data provided by SoSoValue, XRP ETFs recorded a net outflow of $92.92 million on Jan. 29. This marks the second major red day for XRP ETFs in roughly a week after a $53.32 million outflow on January 20. However, the waning institutional interest has not dissuaded Portnoy from another massive purchase. #XRP News #Dave Portnoy