XRP, alongside the Ripple ecosystem, may be on the verge of a major change following a new leadership shift. Ripple’s chief technology officer (CTO), David Schwartz, has announced his departure from the top role after 13 years of service.
According to Schwartz’s tweet, he will retire from the day-to‑to‑day duties as Ripple CTO by the end of the year. This doesn’t mean that the crypto veteran will completely exit the XRP community; he says he will continue to work from the sidelines while returning to his hobbies.
Ripple CTO Resigns After 13 Years
Schwartz described his time at Ripple and his life’s journey so far as a wild ride. He went from consulting for the U.S. National Security Agency (NSA) to learning about Bitcoin in its early stages. Over a decade ago, he met three people with whom he collaborated on coding the XRP Ledger (XRPL).
“I can’t begin to explain the depth of my gratitude to this company, the people who work here, and the community that surrounds XRPL. It’s been one of the greatest honors and experiences of my life, second only to my amazing family,” Schwartz stated.
During his last months as CTO, the Ripple executive managed an XRPL node and published its output data. He has also been in search of other use cases for XRP, besides the areas Ripple has focused on. Schwartz revealed that he has enjoyed getting his hands dirty, coding for the love of it, and interacting with builders. His decision to resign will enable him to return to these hobbies while spending time with his family.
Could This Change Affect XRP?
As the Emeritus CTO, Schwartz says he will still be in and out of the office. Ripple Labs co-founder Chris Larsen asked Schwartz to join the company’s Board of Directors, and he accepted. This will enable the OG to continue supporting the firm’s mission and long‑term vision.
It goes without saying that Schwartz has been a crucial player in the XRP ecosystem. His departure from a more hands‑on position could mean a lot for the XRPL.
While Ripple is yet to unveil its new CTO, Schwartz’s successor could apply new and different strategies that could make or mar the growth of the XRP ecosystem. If the former becomes the case, then such positive development could propel the price of XRP to new highs.
Either way, Schwartz’s departure is likely to have a significant impact on XRP and the XRPL. It remains to be seen if it will be positive or negative.