On Sep. 30, Ripple CTO David “JoelKatz” Schwartz announced he’s stepping back from his daily activities at Ripple Labs after more than 13 years at the firm.
He shared that over the last few months, he has been researching other use cases for XRP besides what Ripple is focused on. Still, he noted that he isn’t leaving Ripple permanently and will continue to remain active in the company’s activities. Schwartz joined the company in 2011 as a cryptographer and was promoted to Chief Technology Officer in 2018.
“The time has come for me to step back from my day-to-day duties as Ripple CTO at the end of this year,” Schwartz wrote on X. “I’m really looking forward to spending more time with the kids and grandkids and going back to the hobbies I set aside. However, be warned, I’m not leaving the XRP community. You haven’t seen the last of me (now, or ever).
Schwartz steps back but remains on the Ripple board
Schwartz will remain at Ripple as Chief Technology Officer Emeritus, an honorary title , and will also join the company’s board of directors. CEO Brad Garlinghouse praised the move on X, calling Schwartz a “true OG in crypto.” A Ripple spokesperson noted that Dennis Jarosch, Senior Vice President of Engineering, will lead the team going forward.
Data from the blockchain analytics platform Nansen showed that the price of XRP surged about 1.4% to $2.87 from $2.83 in the hours following Schwartz’s announcement. The token reached an all-time high price of more than $3.50 in July. It is currently the fourth-largest cryptocurrency by market capitalization, with a value of roughly $172 billion.
Ripple is one of the leading blockchain tech and crypto payments firms in the world. Notably, Schwartz had been associated with both Ripple and the XRP Ledger since their inception.
The blockchain firm has established itself as a massive presence in the crypto space, with a loyal fan base they’ve dubbed the “XRP Army.” The company has also dabbled in political efforts; along with Coinbase, it recently donated approximately $70 million to a United States-backed political action committee, Fairshake, that influenced the 2024 election and the 2026 midterms. In a 60 Minutes interview, Garlinghouse said the PAC was formed in part as a counter to the SEC’s enforcement action against Ripple.
Novogratz surprised by XRP’s survival
The SEC’s case, brought under the leadership of Jay Clayton in December 2020, concluded in March when the regulator abandoned a key appeal . Recently, Galaxy Digital CEO Mike Novogratz stated that he did not expect Ripple’s token to survive the SEC lawsuit against the California-based blockchain company. Novogratz made this declaration on a podcast with Kyle Chasse.
The SEC initially accused Ripple of selling unregistered securities in the form of XRP worth $1.3 billion. Following years of litigation, the court finally approved the settlement reached by the parties in August 2025. Novogratz said that this development came as a surprise, as he did not think XRP would last so long.
The entrepreneur continued to say that he previously regarded Ripple’s token with disdain, partly due to its community, which he likened to a cult. Still, he admitted that over time, he concluded that this could generally apply to fans of most successful cryptocurrencies who are completely devoted. The Galaxy head mentioned an example of one of his own employees, who considers Bitcoin a central part of their life.
Novogratz acknowledged the role of Ripple CEO Brad Garlinghouse in the successful resolution of the legal dispute, as well as maintaining the integrity of the community, which he called “one of the strongest” in the industry.
He also noted that XRP turned out to be the best asset to invest in after November 2024, considering its rally.
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