David Schwartz Hasn’t Bought XRP in Years: And His Latest Comments Sparked a Firestorm

David Schwartz’s latest comments about his XRP holdings have prompted questions from some members of the community about his confidence in the asset.

In a series of posts on X, the former Ripple CTO said he has not bought XRP in a long time and has sold nearly all the digital assets he has ever held because he is uncomfortable with risk. Schwartz still holds a considerable amount of Ripple stock, which he considers more risk than he would ideally like to take.

Schwartz Hates Risk

Schwartz has reduced his XRP holdings from 26 million to just 3 million. His Bitcoin holdings were down from 1,500 to just 1 BTC, while his Ethereum stash was down from 40,000 to just 6 ETH.

The comments quickly caught the attention of XRP holders, particularly those who questioned why someone who helped create the XRP Ledger would still view the crypto asset as a risky investment. One user said Schwartz understands the technology, its potential, growing adoption, and how a higher XRP price could improve efficiency and costs. Against that backdrop, the user questioned why he would be reluctant to hold more of the asset.

Schwartz did not dispute the point. He said almost every major risk he has taken in life has paid off, but that does not change the fact that he simply hates taking risks.

Not everyone was satisfied with that explanation. Another X user said that Schwartz’s comments had “opened a can of worms” for Ripple, and asked how XRP could be considered a risky investment if the company’s plans and business model were as solid as the community had been led to believe. The user even suggested that the former CTO had handed XRP holders a potential reason to pursue a class-action lawsuit against the blockchain company.

However, Schwartz’s said that it was his personal tolerance for financial risk, and not a prediction about XRP’s future. Despite this, the exchange has exposed a clear divide in community expectations.

Weakness Deepens

XRP was down 2.2% over the past 24 hours as the struggle near $1.06 continues. The crypto asset has shed more than 18% in the past week alone.

The sell-off has pushed XRP down to sixth place among cryptocurrencies by market capitalization, with USDC overtaking it.