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David Schwartz, former chief technology officer of Ripple, has disclosed that his XRP holdings have decreased by approximately 23 million tokens, dropping from a peak of around 26 million to roughly 3 million, according to U.Today.
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As of 06:53 UTC, XRP traded at $1.05, -4.1% over 24 hours, with $2.3 billion in 24-hour volume.
Significant Reduction in Crypto Assets
Schwartz shared the details of his portfolio changes on the social media platform X. The reduction in his XRP position represents a decline of over 88% from his highest recorded holdings. In a statement, Schwartz noted, “It’s not a secret. I think I’m down from a high of around 26 million XRP to around 3 million XRP.”
The former Ripple executive also revealed substantial cuts to his other digital asset positions. His Bitcoin holdings were reduced from approximately 1,500 BTC to just 1 BTC. Similarly, his Ethereum holdings were slashed from around 40,000 ETH to 6 ETH. These moves indicate that Schwartz has sold off nearly all of his previous Bitcoin and Ethereum assets.
It remains unclear when the bulk of these sales occurred or the total revenue generated from the transactions. However, the scale of the reduction across multiple major cryptocurrencies suggests a systematic exit from digital asset holdings rather than isolated trades.
Justifications and Sales Strategy
Schwartz has previously provided context for his selling behavior, citing an extremely low risk tolerance as the primary justification. In July, he disclosed that he and his wife decided to sell crypto holdings whenever new all-time highs were reached. This strategy aligns with his stated preference for minimizing financial exposure.
Earlier this year, Schwartz admitted to selling around 2.5 million XRP in 2025 alone. He indicated that most of these tokens were received in 2020 and 2023. As a result of these sales, he paid approximately $1.7 million in capital gains taxes. Schwartz also detailed that he maintains a written sales plan with a lawyer, which requires at least 30 days’ advance notice before selling XRP.
The former CTO acknowledged that he has not been buying XRP for a long time. Despite the reduction in his crypto portfolio, Schwartz still holds a significant amount of Ripple stock. He noted that holding this equity exposes him to more financial risk than he would ideally prefer, though he has not indicated plans to divest these shares immediately.
Community Reaction and Market Context
The disclosure arrives amid growing frustration within the XRP community regarding the cryptocurrency’s recent price performance. At the start of the current month, an XRP holder publicly questioned whether Schwartz was to blame for the token’s downturn. Schwartz responded by stressing that he probably had very little impact on the market movements.
The former Ripple CTO’s comments highlight the ongoing tension between individual investor actions and broader market sentiment. While Schwartz has outlined a disciplined approach to managing his risk, the timing of his sales has drawn scrutiny from community members monitoring the asset’s price action.
Schwartz has not provided further details on his future plans regarding digital assets or Ripple stock. The lack of clarity on the timing and revenue of his bulk sales leaves questions about the full scope of his portfolio restructuring. His continued presence in the XRP community, despite the significant reduction in his holdings, suggests an ongoing interest in the ecosystem, even if his direct financial exposure has diminished.
Source: U.Today
