Finance Veteran Gary Cardone Sells Off All His XRP Holdings; List Six Reasons for the Move

Highlights:

• Finance expert Gary Cardone has dumped all his XRP holdings in a move that elicited backlashes from XRP enthusiasts.
• The financial veteran backed his decision, citing six reasons that motivated the token deposits.
• Market participants asserted that Cardone had made a financial mistake that he would live to regret.

Gary Cardone, a renowned finance expert with over forty years of experience, shared on X that he has sold all his XRP tokens. He noted that he dumped the tokens at $2.71 per token, eliciting widespread reactions among market participants, especially XRP enthusiasts.

Per Cardone, his years of trading experience guided him into making the right decision. “For anyone wanting to understand my decision, it is very simple: My 40 years of experience has taught me certain lessons that I don’t violate,” the Finance expert noted. Going further in the X post, Cardone highlighted six reasons, backing his XRP dumpings conviction.

Dumped XRP position today at $2.71.

I genuinely hope the XRP army gets stupid rich, I don't think you will, but my best hopium is out to each of you.

For anyone wanting to understand my decision, its very simply, my 40 yrs of experience has taught me certain lessons that I… pic.twitter.com/LBCZY9grFQ

— Gary Cardone (@GaryCardone) February 20, 2025

XRP Lacks the Fundamentals to Thrive in the Long-Term

In his words, the finance expert stated that XRP lacks explicit supply and demand dynamics. Therefore, he sees no reason to continue involving himself with the asset class. Also, Cardone mentioned that he still finds everything relating to XRP a bit confusing. He added that even XRP faithfully struggles to explain the intricacies around the token’s functionalities and use cases.

Another area of concern in the financial expert’s tweet was the fact that XRP only has a price but lacks intrinsic value. In addition, he spoke on preferring long-term investments over short-term ones. Part of his tweet read, “Great wealth is made by highly consolidated bets and investments that are made over long periods of time.”

Considering how XRP’s price has evolved over the past six to seven years, one could assert that the token’s price movements have not been promising. For context, XRP’s attained a $3.40 all-time high (ATH) in January 2018. Since then, the token has struggled to reclaim its peak price, which has made many investors lose patience with the token.

Rounding up his tweet, Cardone cautioned his followers to always refrain from following the crowd, as such could be misleading. In his tweet, he ranked this advice as the most important step to becoming a successful trader. His statement implies that XRP has been living off hype from its community. This is not an ideal feature for a digital asset that graced the crypto market over ten years ago.

XRP Enthusiasts React to Cardone’s Sell-Off Claims

As expected, the financial expert tweet attracted numerous backlashes from many XRP faithful. They argued that Cardone made huge financial mistakes that he would live to regret. Some other comments tagged the financial expert as a mere attention seeker in a bid to rubbish his claims.

NOBODY CARES!

This will go down as the worst financial decision in history.

Go back to BTC, trade your stocks, and have fun missing out GENERATIONAL WEALTH. 👋

— EDO FARINA 🅧 XRP (@edward_farina) February 20, 2025

It is left to see how events unfold. XRP’s future price actions would determine if Cardone had made the right decision or if the XRP army was right to discard the expert’s claims. On its part, XRP’s future appears promising, especially with the possibility of a potential XRP ETF approval happening in the coming months.

Earlier today, renowned Fox Journalist Eleanor Terrett revealed that the SEC has already moved Grayscale’s XRP ETF filing to the Federal Reserve. She noted that the transfer marks a significant step in the final procedure that would result in the ETF approval. Going further, Terett estimated that the SEC will endorse Grayscale’s XRP ETF on or before October 18.