Ripple Labs’ Chief Technology Officer, David Schwartz, has announced he will step down from his day-to-day responsibilities after more than 13 years at the blockchain company. Widely recognized as one of the original architects of the XRP Ledger (XRPL), Schwartz will transition into a new role while maintaining close ties to the Ripple and XRP community.
Schwartz, who joined Ripple in 2011 as a cryptographer, played a central role in designing the XRP Ledger. He became Ripple’s CTO in 2018 and has since been one of the most influential voices in the cryptocurrency space.
In a public statement on X, Schwartz said:
“The time has come for me to step back from my day-to-day duties as Ripple CTO at the end of this year. I’m really looking forward to spending more time with the kids and grandkids and going back to the hobbies I set aside. But be warned, I’m not going away from the XRP community.”
Transition to Ripple’s Board of Directors
Ripple confirmed that Schwartz will assume the honorary title of Chief Technology Officer Emeritus and join the company’s board of directors. CEO Brad Garlinghouse praised the move, calling him a “true OG in crypto” and emphasizing his continued importance to Ripple’s future.
Meanwhile, Dennis Jarosch, Ripple’s Senior Vice President of Engineering, will step in to lead the company’s engineering division.
Market Reaction and XRP Price Impact
Following the announcement, XRP’s price briefly rose by 1.4%, moving from $2.83 to $2.87, according to Nansen data. While a modest increase, the market reaction highlighted investor confidence in Ripple’s leadership transition.
XRP remains one of the largest cryptocurrencies by market capitalization, valued at approximately $172 billion. The token reached an all-time high above $3.50 in July and continues to play a major role in global blockchain adoption.
Ripple’s Expanding Influence
Beyond technology, Ripple has grown into a powerful political and financial force. Alongside Coinbase, the company contributed around $70 million to the pro-crypto political action committee Fairshake, which played a significant role in the 2024 U.S. elections.
Ripple has also been at the center of regulatory debates. Its long-running legal battle with the U.S. Securities and Exchange Commission (SEC) concluded earlier this year, ending with the regulator dropping a key appeal — a major win for Ripple and the broader crypto industry.
Schwartz’s move signals a new phase for Ripple, with leadership shifting while keeping its most important figures involved in shaping the company’s strategic direction. With continued growth, political influence, and XRP’s strong position in the market, Ripple remains one of the most significant players in the blockchain industry.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.