Ripple CTO Emeritus David Schwartz has disclosed that he sold nearly all of his cryptocurrency holdings over the years, sharply reducing his exposure to XRP, Bitcoin, and Ethereum. The revelation marks a significant shift in the personal investment strategy of one of the XRP Ledger's original architects. Schwartz, who previously served as Ripple's chief technology officer, has been a longtime public voice on the XRP Ledger's development.

According to figures confirmed by Schwartz, his XRP holdings declined from approximately 26 million tokens to 3 million. His Bitcoin position fell from 1,500 BTC to a single coin, while his Ethereum balance dropped from 40,000 ETH to just 6 ETH.

Holdings Cut Across All Three Major Assets

In a November 10 post on X, Schwartz detailed the scale of his cryptocurrency sales, confirming that he had substantially reduced his positions across the three major digital assets. His XRP holdings fell by roughly 23 million tokens, an 88.5% reduction from their previous peak. His Bitcoin holdings declined by more than 99.9%, while his Ethereum holdings dropped by approximately 99.98%.

The sales, however, did not take place in a single transaction. Schwartz gradually reduced his cryptocurrency exposure over several years, making the disclosure a reflection of long-term portfolio management rather than an abrupt exit from the market. Framed that way, the post amounts to a retrospective account of sales already completed rather than an announcement of new disposals.

Risk Tolerance Drove the Decisions

Schwartz attributed the sales primarily to his low tolerance for financial risk. Although he benefited from cryptocurrency's long-term growth, he has consistently preferred securing profits over maintaining large positions in volatile assets.

He previously explained that he and his wife agreed to sell portions of their cryptocurrency holdings whenever prices reached new all-time highs. He also said his XRP sales were carried out under written plans established with legal counsel at least 30 days before execution. Written plans that schedule trades in advance are a common governance practice, used to show that sales follow a predetermined schedule rather than reactions to non-public developments.

The Ripple veteran further disclosed that he sold approximately 2.5 million XRP during 2025, transactions that reportedly generated around $1.7 million in capital gains taxes. In the United States, cryptocurrency disposals are generally treated as taxable events, with gains measured against the holder's cost basis.

Ripple Shares Remain a Core Holding

Despite divesting most of his digital assets, Schwartz continues to hold a substantial stake in Ripple itself. His remaining company shares provide exposure to Ripple's business performance, though private equity and XRP tokens represent distinct types of investments. Ripple is a private company, whereas XRP is the native asset of the XRP Ledger, an independent open blockchain — a distinction that underscores why the two holdings are not interchangeable.

The disclosure comes amid concerns over XRP's price performance and broader cryptocurrency market volatility. While some investors may view the sales negatively, Schwartz has emphasized that his decisions reflect personal risk preferences.

Notably, Schwartz has not disclosed the complete timeline or proceeds from his cryptocurrency sales. His comments therefore do not establish that the transactions contributed to XRP's recent market weakness. Any further detail he shares on timing or proceeds would give a fuller picture of the scale of the sales.