Dave Portnoy (데이브 포트노이), founder of U.S. media company Barstool Sports, set $1.40 as his target price to sell XRP.

On July 23, blockchain outlet U.Today reported that Portnoy said he would rather secure cash ahead of an August racehorse auction than wait for XRP to rise to $2.

The key is cash needs rather than an investment decision. Portnoy argued on social media that XRP needs to rise quickly and cited $1.40 as the target price. He also said Bitcoin needs to rise to $80,000 and that Bitcoin, cryptocurrencies and XRP must do their part so he can take part in the auction.

The strategy also ties in with an attempt to recoup past losses. Portnoy said his crypto portfolio recorded losses of $3 million to $5 million, about 4.39 billion to 7.32 billion won, at the lows. Rather than hold long term and wait for a further rebound, he has effectively shifted toward locking in gains once a set price is reached.

Looking at market moves, the $1.40 he cited is not just a personal target. XRP is currently trying to stabilise at around $1.10, but the 200-day moving average sits near $1.40. That zone has been presented as a key resistance level after XRP repeatedly tried to break through it this year but was pushed back each time.

Portnoy also reacted self-mockingly about his market timing. He said it repeatedly happens that prices surge right after he cuts losses on cryptocurrencies, joking that if the community wants the market to rise it may have to pay him to close out his positions.

In that context, Portnoy's $1.40 target is seen as a price level where a technical resistance line and a cash-out point overlap. He is calculating that he can secure cash first in a zone where mid-term traders are likely to take profits. What Portnoy is waiting for is less a full trend reversal in XRP than a short-term rebound that could extend to around the 200-day moving average.

Ultimately, the point to watch in this remark is not whether XRP recovers its long-term peak. More direct variables are whether $1.40 will again act as a strong resistance line in the market and whether a short-term rebound, combined with retail investors' demand to cash out, will lead to selling pressure.

I need crypto to skyrocket so I can buy more horses #DDTG pic.twitter.com/ZLg8uoKFvK