An influential voice in the XRP community is calling for an exit as Ripple’s long-serving Chief Technology Officer, David Schwartz, announces his resignation.
In a heartfelt post, Schwartz revealed he will step down from his day-to-day duties at the end of the year, after more than 13 years at Ripple. He reflected on his decades in blockchain, highlighting his role in co-creating the XRP Ledger and shaping Ripple’s technological direction.
Schwartz says it’s now time to move on. He expressed gratitude for the journey and contributions. In parallel, he shared his desire to spend more time with family and personal hobbies.
He noted that he will continue working on XRP-related projects and serve on Ripple’s Board of Directors as CTO Emeritus.
Responding, many in the XRP community appreciated Schwartz’s role in building the XRP Ledger and wished him well in his next chapter. However, the move has sparked unease within the community. Some see it as a sign that Ripple may be entering a new and uncertain phase.
“Time to Sell XRP”
Influential trader and early XRP investor Crypto Bitlord seized on the news to issue a “time to sell XRP” warning.
Bitlord argued that Schwartz’s decision to step down comes at a critical time, as Ripple faces intensifying competition, particularly after SWIFT unveiled its own blockchain ledger in partnership with Consensys and over 30 global banks.
He claimed that Ripple’s lack of meaningful cash flow, beyond its XRP sales to the public, exposes a fundamental weakness. According to him, Ripple’s reliance on retail dumping is fading, and Schwartz’s joining the board is more about preparing for a potential IPO than signaling growth for XRP itself.
Investor Frustration
Bitlord, who once urged followers to “buy XRP for the love of God,” has grown increasingly vocal about his disappointment in the token. He lamented that, after more than a decade of holding, XRP has failed to reach life-changing price levels.
Recently, Bitlord warned that he would “sell every last cent” if XRP ever dropped back to $2, calling it proof of a failed investment. XRP’s ongoing price stagnation, despite occasional surges, has led some holders to question whether it can still fulfill its promise. Meanwhile, many remain bullish, seeing heightened negative narratives as a bullish factor.
What Comes Next for XRP?
The timing of Schwartz’s announcement coincides with SWIFT’s high-profile reveal of a blockchain-based shared ledger.
For years, Ripple positioned XRP as a replacement for SWIFT’s global payment rails. But with SWIFT now integrating blockchain directly, the case for XRP as a “SWIFT killer” becomes increasingly fragile.
Community commentators note that financial institutions are far more comfortable upgrading their existing systems than adopting XRP, further weakening the long-standing argument that Ripple could dominate cross-border payments.
Meanwhile, Schwartz emphasized that his departure is a personal decision. He will remain involved with Ripple as a board member.
As for XRP, Schwartz said he plans to stay active in the community, exploring new use cases for the XRP Ledger beyond Ripple’s current focus. He expressed a strong desire to return to hands-on development, coding, experimenting, and potentially launching new initiatives.
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
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