'Gary Cardone' Dumps XRP Position, Saying 'I Genuinely Hope The XRP Army Gets Stupid Rich, I Don't Think You Will'

Widely-followed pseudonymous investment influencer ‘Gary Cardone,’ not to be mistaken for Grant Cardone, announced exiting his XRP XRP/USD position, citing six rules that influenced his decision.

What Happened: The influencer shard a screenshot of selling 30,000 XRP holdings at $2.71 on Friday on X, justifying his decision with principles refined over 40 years in finance. He opened his viral statement with the words “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.”

Cardone said his investment philosophy is guided by six key rules:

• Avoid assets where supply and demand dynamics are unclear unless you have a strong edge.
• If something cannot be explained in a simple, visual manner, it's not worth the risk.
• Steer clear of those who focus solely on price without understanding value.
• Separate short-term noise from long-term investment strategy.
• True wealth is built through highly concentrated bets held over extended periods.
• Do not follow the crowd, the most crucial rule for success.

Commentators pushed back, arguing XRP is positioned for major capital appreciation in the long run, with one predicting that XRP is going to $8-$10.

Also Read: XRP Rallies 5% On ETF News: What Is Going On?

What's Next: Bitwise Chief Investment Officer Matt Hougan highlighted in a CNBC interview on Thursday that demand for an XRP ETF is growing due to its strong community and liquidity on centralized exchanges. He sees potential for an XRP, Solana, or index-based ETF by the end of 2025.

Fox Business journalist Eleanor Terrett reported that Grayscale's XRP ETF (19b-4 filing) is now on the Federal Register. The SEC is required to respond by Oct. 18, marking a crucial deadline for ETF approval or rejection.

Read Next:

• XRP Up 297% Against Bitcoin Since Donald Trump Won The Election: Here’s Why

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