David Schwartz, Ripple’s chief technology officer emeritus and one of the original designers of the XRP Ledger, has revealed that he sold most of his cryptocurrency holdings over the years, reducing his XRP balance from approximately 26 million tokens to just 3 million.
The disclosure, published on X on November 10, 2026, also revealed significant reductions in his Bitcoin and Ethereum holdings. Schwartz said his Bitcoin balance dropped from approximately 1,500 BTC to one, while his Ethereum holdings declined from around 40,000 ETH to just six.
The revelations have attracted attention from XRP investors, particularly as the token struggles with a broader market decline. XRP was trading around $1.06 on November 11, down approximately 17% over the previous seven days and significantly below its July 2025 all-time high of approximately $3.65.
However, Schwartz’s disclosures do not indicate that he recently sold all his XRP. Instead, they provide insight into his long-standing strategy of gradually reducing cryptocurrency exposure.
David Schwartz Reveals His Remaining XRP, Bitcoin and Ethereum Holdings
Schwartz addressed questions about his personal cryptocurrency portfolio through his X account, where he posts under the username JoelKatz.
In his November 10 statement, he explained that his XRP holdings had declined from a peak of approximately 26 million tokens to around 3 million.
The disclosure represents an estimated reduction of 23 million XRP, or approximately 88.5% of his peak holdings.
His other cryptocurrency positions experienced even larger reductions:
XRP: From approximately 26 million to 3 million tokens.
Bitcoin: From approximately 1,500 BTC to just 1 BTC.
Ethereum: From approximately 40,000 ETH to just 6 ETH.
Despite selling most of his cryptocurrency holdings, Schwartz confirmed that he still owns a considerable amount of Ripple stock.
This distinction is important because his remaining financial exposure to Ripple is not limited to XRP tokens. Shares in the privately held company provide a separate form of exposure to Ripple’s business performance.
Why Did Schwartz Sell Most of His XRP?
Schwartz has repeatedly explained that his decisions were driven primarily by personal risk management rather than a negative outlook on XRP.
In an earlier X discussion, he revealed that he had reached an agreement with his wife to sell XRP whenever the token established a new all-time high.
He described his approach as a way to reduce financial exposure while securing gains during periods of strong market performance.
Schwartz also openly acknowledged his discomfort with financial risk, explaining that he had sold nearly all the digital assets he had accumulated.
In another November 9 discussion, he said he had not purchased XRP in a long time and considered his remaining Ripple stock exposure more risk than he would ideally prefer.
His comments suggest that the decision was part of a broader investment strategy rather than a sudden change in confidence toward the XRP Ledger.
Schwartz Sold 2.5 Million XRP in 2025 and Paid $1.7 Million in Taxes
Additional details emerged on November 9, when Schwartz disclosed that he had sold approximately 2.5 million XRP during 2025.
According to his statement, most of those tokens had been received in 2020 and 2023.
He also revealed that the transactions generated approximately $1.7 million in capital gains taxes.
Schwartz explained that his XRP sales follow a formal process designed to avoid potential insider-trading concerns.
He said each transaction is covered by a written plan established with an attorney at least 30 days before the sale.
The arrangement is intended to prevent allegations that he traded based on confidential information, including potential XRP Ledger vulnerabilities or other developments that could influence the token’s market price.
The disclosure provides additional context about his selling history, although the 2.5 million XRP figure refers specifically to his 2025 transactions and does not account for all the sales that reduced his holdings from 26 million to 3 million.
XRP Community Reacts to Schwartz’s Selling History
The disclosure generated mixed reactions among XRP supporters.
Some investors questioned why one of the most recognizable figures associated with the XRP Ledger had reduced his personal token exposure so significantly.
Others argued that his selling strategy should not automatically be interpreted as a bearish signal, particularly because he also reduced his Bitcoin and Ethereum holdings.
The discussion has also highlighted a broader disagreement within the XRP community over expectations for the token’s long-term valuation.
Some investors believe XRP could experience substantial appreciation as institutional adoption, payment infrastructure, and tokenization develop.
Others are increasingly questioning whether the token’s market performance can meet the expectations created by bullish price forecasts.
Schwartz’s comments have added another dimension to that discussion: the difference between believing in a blockchain network’s technology and choosing to maintain significant personal exposure to its native cryptocurrency.
XRP Price Falls Below $1.10 as Weekly Losses Approach 18%
The disclosure comes during a difficult period for XRP.
According to market data from November 11, XRP was trading around $1.06, following several consecutive sessions of declining prices.
The token has lost approximately 17% to 18% over seven days, extending a correction that began before Schwartz publicly disclosed his remaining holdings.
XRP’s current price also represents a substantial decline from its July 2025 record of approximately $3.65.
At around $1.06, the token is trading more than 70% below that peak.
The timing of Schwartz’s comments has therefore intensified investor discussions, although there is no evidence that his historical selling activity caused the recent decline.
The broader market environment, trading activity, liquidity conditions, and investor sentiment remain important factors influencing XRP’s performance.
Can XRP Recover to $6 or $10?
Despite the recent decline, some market analysts continue to publish bullish long-term projections for XRP.
Pseudonymous analyst Einstein recently outlined a potential scenario in which XRP could reach $6 or even $10 if its long-term ascending price structure remains intact.
The analyst identified a potential accumulation zone between $0.70 and $1.00, while emphasizing the importance of maintaining long-term technical support.
These projections remain speculative and depend on several market conditions, including renewed investor demand and stronger buying activity.
To understand the scale of these targets, consider their implied market capitalizations using an illustrative circulating supply of 63.52 billion XRP:
At $6: Approximately $381 billion.
At $10: Approximately $635 billion.
Reaching these valuations would require substantial growth in XRP’s market capitalization and sustained demand for the token.
Schwartz himself has previously expressed caution about extremely bullish price predictions, including forecasts suggesting that XRP could reach $50 or $100 within a relatively short period.
His latest disclosures also reinforce the importance of separating speculative price targets from personal investment decisions.
Does David Schwartz’s XRP Selling History Matter for Investors?
Schwartz’s decision to reduce his XRP holdings is significant because of his long-standing involvement in the development of the XRP Ledger.
However, his statements do not establish that he has lost confidence in the technology or expects XRP prices to decline.
His explanation has consistently centered on risk management, predetermined selling rules, and a preference for reducing exposure to volatile digital assets.
It is also worth noting that he continues to hold approximately 3 million XRP, alongside a considerable amount of Ripple stock.
For investors, the more relevant questions remain whether XRP can recover from its recent correction, whether institutional adoption continues to expand, and whether demand for the network’s services translates into sustained demand for its native token.
Ultimately, Schwartz’s portfolio decisions reflect his personal financial preferences rather than an official forecast for XRP’s future performance.
Conclusion
David Schwartz’s disclosure that he reduced his XRP holdings from 26 million to approximately 3 million has sparked fresh debate across the cryptocurrency community.
His significant reductions in Bitcoin and Ethereum holdings suggest a broader preference for limiting cryptocurrency exposure rather than a decision targeting XRP alone.
With XRP trading near $1.06 and remaining considerably below its previous all-time high, investors will be watching market conditions and adoption developments to assess the token’s next direction.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments involve substantial risks, and readers should conduct independent research before making investment decisions.