“People Can Be Their Own Banks”: Ripple CTO Explains Why XRP Still Matters

In a candid conversation with crypto podcaster Scott Melker on X (formerly Twitter), Schwartz acknowledged that the market remains heavily speculative, yet argued that XRP’s long-term relevance depends on how much people actually use it.

XRP’s Philosophy: Accessibility Without Intermediaries

Schwartz, one of the key engineers behind the XRP Ledger, described the blockchain as a financial system designed for open access. “XRP is a blockchain where people can be their own banks — where middlemen don’t tax transactions,” he told Melker. His point reflects Ripple’s founding philosophy of creating a decentralized system that operates independently of traditional financial gatekeepers.

According to Schwartz, what makes XRP distinct is its structure as a universal asset — one with no central authority or counterparties. “XRP is the only asset that’s accessible to every account in every jurisdiction, with no risk of default, freeze, or clawback,” he said, emphasizing its neutrality and resilience compared to permissioned systems.

Speculation vs. Adoption

While his defense of XRP’s fundamentals was clear, Schwartz did not shy away from the truth that much of crypto’s valuation still hinges on speculative enthusiasm. “I want to believe in the importance of usage,” he said, reflecting a sentiment that utility — not price hype — will determine which digital assets endure.

That acknowledgment is significant coming from one of Ripple’s most prominent figures. Since 2011, Schwartz has been one of the key architects behind Ripple’s technology and an active voice in debates surrounding decentralization, regulation, and blockchain integration within traditional finance.

With Schwartz expected to step down as CTO by the end of 2025, his comments also serve as a parting reflection on how far crypto has come — and how much further it still has to go to escape the gravitational pull of speculation.

Ripple’s Broader Mission

Under Schwartz’s technical leadership, Ripple has focused on building blockchain solutions for cross-border payments and liquidity management — an area where XRP continues to play a central role. The company’s vision has evolved from a fintech disruptor into a global partner for banks, governments, and remittance providers exploring tokenized settlement systems.

Ripple’s recent partnerships, coupled with greater regulatory clarity, have renewed institutional interest in XRP as a bridge asset. Yet even as adoption grows, Schwartz’s remarks suggest he remains cautious about equating short-term market value with technological success.

“The crypto market is emotional,” he once noted in a previous discussion about price cycles. “People often overestimate innovation in the short term and underestimate it in the long term.”

A Debate That Refuses to Fade

Schwartz’s comments have reignited the perennial argument over whether cryptocurrencies have “inherent value.” Financial giants such as Hargreaves Lansdown and Charles Schwab continue to assert that most digital assets lack fundamental worth — pointing to the absence of cash flow or physical backing.

Crypto advocates, however, argue that value in the digital age stems from network utility, decentralization, and user sovereignty. In that sense, Schwartz’s position bridges both camps: while acknowledging speculation’s role, he insists that usage will ultimately define the winners.

For XRP, he believes that success will come from real-world integration — whether in payment rails, remittances, or tokenized asset settlements. “True value,” he said, “emerges when a blockchain becomes indispensable to how people move money and store wealth.”

The Bigger Picture

As the crypto market matures, Schwartz’s comments underscore a larger shift underway. Once dominated by retail speculation, the space is now witnessing an influx of institutional capital, government regulation, and corporate experimentation. XRP’s story, shaped by years of volatility and controversy, mirrors that evolution.

With Schwartz preparing to exit his role, his parting message carries both humility and conviction: that technology alone is not enough — real-world adoption must follow.

Whether XRP becomes the backbone of next-generation financial infrastructure or remains one of many contenders will depend on how well that vision translates into tangible use cases. But one thing is clear — for Schwartz, value built on hype is fleeting, while utility endures.