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- David Schwartz will step down as Ripple CTO but joins the board as CTO Emeritus.
- Community praises his contributions, calling him an XRP legend.
- XRP price dipped slightly, partly due to market correction, not solely the leadership change.
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David Schwartz, a pioneering figure in cryptocurrency, announced he will step down as Chief Technology Officer (CTO) of Ripple at the end of 2025. Having joined the company in 2011 as a cryptographer and ascending to CTO in 2018, Schwartz highlighted his 13-year tenure with gratitude.
In a personal post on X (formerly Twitter), he shared: “The time has come for me to step back from my day-to-day duties as Ripple CTO… I’m really looking forward to spending more time with the kids and grandkids and going back to the hobbies I set aside.” While stepping back operationally, Schwartz confirmed he will remain deeply connected to Ripple and the XRP community. He has accepted a seat on Ripple’s board of directors and will carry the honorary title of CTO Emeritus.
As happens in one’s life, I’ve been taking stock of my last 40 years. It’s been a wild ride. I’ve gone from consulting for the NSA to watching the early stages of Bitcoin. Then, I met Arthur, Jed, and Chris and worked on coding the XRP Ledger. Now, I’ve spent more than 13 years…
— David 'JoelKatz' Schwartz (@JoelKatz) September 30, 2025
Community Applauds a Crypto Veteran
Schwartz’s announcement sparked widespread reactions across the cryptocurrency world. Ripple CEO Brad Garlinghouse described him as a “true OG in crypto” and praised his foresight and dedication. Many XRP supporters hailed Schwartz as an “XRP community legend,” highlighting his role in shaping the XRP Ledger and advancing Ripple’s mission. Some enthusiasts even suggested the move signals future growth, joking XRP is headed “to the moon and beyond.”
Skepticism and Market Reactions
Not all responses were positive. Crypto commentator Crypto Bitlord viewed Schwartz’s departure as a potential signal of strategic challenges for Ripple, citing increased competition from Swift’s new partnership with ConsenSys in cross-border payments. He speculated that Schwartz’s board role could align with Ripple preparing for a potential IPO.
Also Read: XRP ETF Approval Almost Certain: Could Ripple Hit $33 Soon?
XRP’s price saw a 1.54% dip following the announcement, trading around $2.85 at press time. Market analysts, however, note that broader market corrections likely contributed, as the total crypto market cap fell 0.64% in the same period.
Looking Ahead
While David Schwartz steps back from daily operations, his ongoing involvement at the board level ensures he will continue influencing Ripple’s strategy. The move appears aimed at balancing personal priorities with a long-term commitment to the XRP ecosystem, signaling stability amid growing industry competition.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
