Ripple CTO emeritus David Schwartz says XRP holdings fell 92% from 26 million peak

Ripple CTO emeritus David Schwartz has revealed a substantial reduction in his personal XRP holdings, offering a rare update in response to direct questions from users on X. Schwartz clarified his current position as inquiries surfaced regarding the extent of his asset sales over time.

Schwartz clarifies XRP wallet balance

Addressing a question about whether he had liquidated all of his XRP, Schwartz stated he currently owns approximately 2 million XRP. This number marks a notable decrease from his previous peak holdings of around 26 million XRP, representing a reduction of roughly 92%.

Despite suggestions from some X users that Schwartz may have sold or “dumped” his entire XRP stake, he emphasized that this is not the case. However, Schwartz did not provide full details about how his position decreased to its current level. The loss could be attributed to various actions such as market sales, transfers, gifts, or expenditures, but he did not elaborate on the breakdown.

Schwartz wrote, “I think I’m down from about 26 million at my peak to about 2 million now.”

Ripple, headquartered in San Francisco, is a leading fintech company that uses its own digital asset XRP for cross-border payment solutions. Schwartz, who served as chief technology officer, remains a prominent figure in the crypto community and is recognized for his technical contributions to the development of the XRP Ledger.

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Past regrets: Early ETH and XRP sales

Schwartz is also known for having sold 40,000 ETH early in Ethereum‘s history. He purchased the tokens for $0.311 each and later sold the entire amount for $42,000, securing a return of 321%. Ethereum prices then surged dramatically, prompting him to express regret over the timing of his sale.

He reported using the proceeds from the sale to purchase and install solar panels at his former home in Oakland, California. Schwartz no longer owns this property, which has added to his sense of missed opportunity from that decision.

He acknowledged that he regretted selling some of his early holdings, including XRP at $0.10 and Ethereum at about $1, attributing these decisions mainly to his risk aversion at the time.

Schwartz’s public reflections on his investment choices have resonated with many in the crypto sector, serving as a reminder of the rapid and unpredictable nature of digital asset markets. While he openly recognizes his missteps, he often cautions others about overexposure to risks.

David Schwartz, through his technical leadership and candid public commentary, has maintained an influential role within Ripple and the broader cryptocurrency landscape. His statements regularly attract significant attention among market participants and digital asset enthusiasts.

Mini dictionary: Ripple CTO emeritus, a title held by David Schwartz after stepping back from his original position as Ripple’s chief technology officer, indicating he no longer manages day-to-day technical operations but remains an important and respected figure within the organization.