In a significant shift for Ripple, David Schwartz, the company’s long-serving Chief Technology Officer (CTO), has announced he is stepping back from his day-to-day responsibilities. After more than 14 years of dedicated service to the pioneering blockchain company, Schwartz will transition to a new role as “CTO emeritus,” joining Ripple’s board. This move was revealed in a post on X, the platform formerly known as Twitter, where Schwartz expressed his excitement about the change and affirmed his continuing commitment to the XRP community.
A New Chapter for Schwartz
David Schwartz, a central figure in Ripple’s development, has been instrumental in shaping the company and its flagship product, the XRP Ledger, from its early days. Joining Ripple as a cryptographer in 2011, Schwartz’s contributions have been pivotal in the evolution of the XRP Ledger, which facilitates secure and efficient transactions on the blockchain. Promoted to CTO in 2018, he became one of the most prominent advocates for XRP, navigating the company through technological advancements and regulatory challenges.
In his announcement, Schwartz emphasized his desire to spend more time with his family while remaining actively engaged with the XRP community. “I’m not going away from the XRP community. You haven’t seen the last of me (now, or ever),” he stated, underscoring his passion for the project and his intention to stay involved in a different capacity.
Returning to His Roots
Schwartz’s decision to step back allows him to return to his roots—engaging directly with the technology and community that he loves. “The last few months I’ve been tinkering on the side – spinning up my own XRPL node and publishing its output data, researching other use cases for XRP (besides what Ripple is focused on), and more,” he shared. His excitement was palpable as he expressed his enthusiasm for coding and collaborating with builders, hinting at more developments to come.
This transition doesn’t mark an end but rather a new beginning for Schwartz, who seems eager to explore new avenues and possibilities for the XRP Ledger. His departure from the CTO role is a personal decision to balance his professional and personal life better, while still contributing to the ecosystem he helped build.
The Path Forward for Ripple
As Schwartz steps back, Ripple has confirmed that Dennis Jarosch, the firm’s senior vice president of engineering, will take the helm of technical operations. Jarosch’s leadership will be crucial as Ripple navigates its next phase of growth, particularly with the expansion of RLUSD, its stablecoin, into tokenized treasury markets. Moreover, Ripple is broadening the XRP Ledger’s use cases beyond payments, a strategic move that could redefine its role in the blockchain space.
Ripple’s leadership transition comes at a time when the company is pushing the boundaries of what its technology can achieve. With Schwartz now on the board, he will continue to provide strategic guidance and insight, leveraging his deep understanding of the technology and the market.
Market Reactions and Future Prospects
The news of Schwartz’s transition comes as XRP was trading at $2.84, down 1.7% in the past 24 hours. While the immediate market reaction was a slight dip, the broader outlook for Ripple remains positive. The company’s focus on expanding the XRP Ledger’s capabilities and exploring new use cases is likely to drive future growth.
Ripple’s stablecoin, RLUSD, is being positioned strategically in the tokenized treasury markets, which could unlock new opportunities for the company. As Ripple navigates this new terrain, the leadership change is seen as a step towards bolstering its technical and strategic capabilities.
Balancing Perspectives
While some may view Schwartz’s stepping back as a potential loss for Ripple, others see it as an opportunity for rejuvenation and innovation. His continued involvement as CTO emeritus ensures that his expertise and vision remain integral to Ripple’s future endeavors. Meanwhile, new leadership under Dennis Jarosch could bring fresh perspectives and energy to propel Ripple forward.
Schwartz’s legacy at Ripple is undeniable. His transition marks the end of one chapter and the beginning of another, both for him and the company. As he embarks on this new journey, the XRP community will undoubtedly benefit from his ongoing contributions and insights.
In the ever-evolving world of cryptocurrency, change is constant. For Ripple and David Schwartz, this transition represents not just change, but a strategic evolution that promises to shape the future of the XRP Ledger and its community. With Schwartz’s continued passion and the leadership of Dennis Jarosch, Ripple is poised to explore new horizons and embrace the challenges and opportunities that lie ahead.
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
