Famous crypto trader Dave Portnoy is back, celebrating his bold XRP dip-buying and saying he could never sit out the recent market drop. His comment comes just days after he accumulated $1 million worth of XRP during last week’s steep downturn. Now, the move has already turned profitable as XRP rebounds.
XRP Rebounds Strongly After Falling to $1.83
XRP is trading at $2.21, up 7.44% in the past 24 hours and back in positive territory for the week with a 2.33% gain. Last week’s sell-off briefly sent XRP down to $1.83, creating the exact environment Portnoy described as a “blood in the streets” moment. The recovery has now placed his million-dollar XRP position in the green.
Portnoy’s Dip Buy Pays Off Sooner Than Expected
On November 17, Portnoy executed a rapid series of buys during the market crash:
- •$500,000 in XRP at 6:36 PM
- •$750,000 in Bitcoin at 6:37 PM
- •$400,000 in Ethereum at 6:37 PM
- •Another $500,000 in XRP at 6:38 PM
This brought his total XRP purchase to $1 million, making it his largest allocation during the dip. At the time, Portnoy framed the opportunity as too obvious to ignore. Eric Trump even praised the transactions as a “smart trade.” Today’s XRP rally appears to validate that stance, at least in the short term.
“Imagine Not Buying the Dip—Couldn’t Be Me”
Notably, XRP traded as low as $2.1182 on the day Portnoy executed his $1 million acquisition. Over the next few days, his position turned negative as the coin dropped below $2. At one point, the $1 million portfolio was worth just over $860,000, after XRP touched $1.83. With XRP climbing, Portnoy posted a short message on X celebrating the turnaround, saying it was hard to imagine sitting out such an opportunity.
The ongoing XRP rally follows a broader market rebound, led by Bitcoin’s recapture of the $89K level earlier today. The move lifted the whole market, which now sits above $3 trillion after having dipped to $2.8 trillion last week. Meanwhile, XRP’s price momentum is further supported by ongoing ETF launches. Yesterday, XRP ETF products from Grayscale and Franklin Templeton went live, seeing debut inflows of over $120 million.
Comeback After Earlier XRP Missteps
Portnoy’s renewed success with XRP comes months after he lamented panic-selling $3 million in XRP during a misinterpreted scare earlier this year. He had intended to hold through volatility but exited at $2.40, only to watch the asset rise to $3.65 shortly after—a moment he described as making him “sick.” His latest accumulation and the profit it generated contrast with that earlier episode, suggesting he is determined not to repeat the same mistake.