Ripple CTO Emeritus David Schwartz has revealed that he reduced his cryptocurrency holdings from approximately 26 million XRP, 1,500 Bitcoin and 40,000 Ethereum to a fraction of those amounts, drawing criticism from XRP holders already frustrated with the tokens falling price.
In a series of posts on November 9 and 10, Schwartz explained that his sales were driven by his discomfort with financial risk. He disclosed selling 2.5 million XRP in 2025 and said his remaining cryptocurrency holdings were considerably smaller than they had been in previous years.
Meanwhile, XRP traded near $1.06 at press time, down over 3% over 24 hours, with some community members questioning why Ripple executives have reduced their exposure while investors continue holding the token.
David Schwartz reveals how much XRP, Bitcoin and Ethereum he sold
The discussion began on November 9 when cryptocurrency tax specialist Clinton Donnelly posted about IRS Letter 6174 notices being sent to cryptocurrency investors.
David Schwartz joined the conversation, saying he had received a similar notice and considered it a routine reminder about tax compliance. A user subsequently questioned how much tax he owed after selling XRP.
Responding to the question, Schwartz disclosed that he had sold approximately 2.5 million XRP during 2025, most of which he received in 2020 and 2023.
In 2025, I sold about 2.5 million XRP, most of which I received in 2020 and 2023. I paid approximately $1.7 million in capital gains tax on those sales.
— David 'JoelKatz' Schwartz (@JoelKatz) November 9, 2026
He said those transactions resulted in approximately $1.7 million in capital gains tax.
The discussion later turned to his remaining cryptocurrency holdings, prompting Schwartz to provide figures showing how much his portfolio had changed.
“It‘s not a secret. I think I’m down from a high of around 26 million XRP to around 3 million XRP,” he wrote.
He added that his Bitcoin holdings had fallen from approximately 1,500 BTC to one BTC, while Ethereum holdings declined from around 40,000 ETH to six ETH.
Ripple executive explains why he reduced his cryptocurrency holdings
Schwartz has repeatedly attributed his selling decisions to a personal preference for avoiding financial risk, despite acknowledging that some of his earlier sales meant missing substantial gains.
“I haven‘t bought XRP in a long time. I am very uncomfortable with risk and have sold nearly all of the digital assets I’ve ever held,” he wrote.
He explained that he still owns a considerable amount of Ripple stock, adding that the investment alone represents more financial risk than he would prefer.
His remarks follow a July discussion about earlier sales, when he acknowledged regretting selling XRP around $0.10 and Ethereum near $1.
At the time, Schwartz explained that he had reached an agreement with his wife to sell cryptocurrency whenever prices reached new all-time highs.
“Obviously, I wish I hadnt done those things,” he said in July, while maintaining that his discomfort with risk had influenced the decisions.
More recently, Schwartz explained that he follows a written trading procedure whenever he sells XRP.
In a November 9 response, he said each sale is arranged through an attorney at least 30 days before execution.
The procedure, he explained, is intended to prevent accusations that he trades using nonpublic information, including knowledge of potential XRP Ledger bugs.
Schwartz did not indicate whether Ripple requires other executives to follow similar procedures.
XRP community questions Schwartzs sales as token falls
The disclosures have renewed criticism among XRP supporters, particularly those who believe Ripples leadership should demonstrate confidence in the cryptocurrency through personal holdings.
An X account named LinkTOAD General circulated Schwartz‘s comments while describing him as Ripple’s founder and claiming he had sold nearly all his XRP.
????HOLY FUCKING SHIT: THE FOUNDER OF @RIPPLE JUST STATED THAT HE “SOLD NEARLY ALL OF” HIS $XRP AND ONLY OWNS RIPPLE STOCK???? https://t.co/7O7EOEzjFO pic.twitter.com/1qgGCD1bo2
— LinkTOAD General (@ARiHBARi) November 10, 2026
However, Schwartz is a co-architect of the XRP Ledger and a former Ripple CTO, and his disclosed holdings show that he still owns approximately 3 million XRP.
The account subsequently criticized XRP Ledger adoption, arguing that investors should consider whether the networks commercial activity supports its valuation.
The reaction follows criticism Schwartz faced on November 7, when investors questioned his responsibility for XRPs prolonged price decline.
Asked whether he had any influence over XRP prices, Schwartz acknowledged that his involvement might have some effect but described it as limited.
Meanwhile, XRP has continued struggling with selling pressure. The tokens latest decline toward $1.06 coincided with withdrawals from US spot XRP exchange-traded funds.
Those funds recorded approximately $10.42 million in net outflows on November 9, with Bitwise accounting for most of the withdrawals.
Notably, Schwartz stepped away from his day-to-day CTO responsibilities at the end of 2025 and became CTO Emeritus, although he remains connected to Ripple and the XRP Ledger community.
In May, he described his remaining exposure as concentrated in XRP and Ripple equity, explaining that the position had not been entirely planned.