XRP co-creator sold millions in 2025, says he hasn't bought the token in years

David Schwartz, the co-creator of XRP and former chief technology officer at Ripple, has stated that he has not purchased any XRP for a considerable period and that his ownership of Ripple stock represents a level of risk beyond what he is comfortable with.

In a post on X on Monday, Schwartz, who also goes by the handle Joel Katz, explained that his dislike for risk has prompted him to dispose of "nearly all of the digital assets I've ever held."

Schwartz further disclosed that during 2025 he sold approximately 2.5 million XRP, incurring a capital gains tax bill of $1.7 million on the transaction.

I haven't bought XRP in a long time. I am very uncomfortable with risk and have sold nearly all of the digital assets I've ever held. I still hold quite a bit of Ripple stock, and that alone is more risk than I wish I had.

— David 'JoelKatz' Schwartz (@JoelKatz) November 9, 2026

Schwartz noted that the XRP he sold was acquired in 2020 and 2023, when the token reached peaks of $0.6 and $0.8 respectively. The asset later climbed to $3.65 in 2025, representing gains of 508% and 356% from those purchase points.

Data from Nasdaq Private Market, a secondary-market stock tracker, shows Ripple shares are valued at nearly $94. That price is down 22% over the past year but has risen 237% over the last two years.

In May of last year, Schwartz advised observers: "If you want direct exposure to Ripple’s success or failure, you can buy Ripple stock on the secondary market if you qualify under US law. But you probably shouldn’t."

Schwartz decides when to sell 30 days in advance

Schwartz's comments on XRP came as a reply to the CEO of a crypto tax firm, who had claimed that the IRS is "dramatically" increasing the number of outgoing Letter 6174 notices directed at cryptocurrency traders.

Schwartz said he received one such notice, discarded it, and reminded users that it is "basically just a reminder to follow the law."

After someone observed that his 2025 XRP sale occurred before the Clarity Act was enacted, Schwartz added that he maintains "a written sales plan that is locked in with an attorney at least 30 days prior to the sale."

He stated: "I don’t ever want to be in a situation where someone can credibly argue that I traded based on, for example, reports of XRPL bugs."

Nobody knows just how much XRP Schwartz has sold

Schwartz helped create the XRP Ledger in 2012 alongside Jed McCaleb and Arthur Britto. He became Ripple's CTO in 2018 and, after seven years, announced his departure from that role in September 2025.

The total amount of XRP Schwartz has sold over his lifetime has never been fully disclosed, though he has asserted that he has never held a nine-figure or ten-figure quantity of the token.

In April 2024, he stated that his all-time peak XRP holding was 26 million.

Schwartz says he and his wife agreed to sell some of his XRP as well as the bitcoin he had accumulated at prices of $0.10 and $750, respectively.

The XRP holdings of most Ripple executives remain obscured after Ripple developers accidentally deleted the XRP Ledger's first 32,569 blocks, erasing transaction data from the company's early years.

McCaleb has reportedly earned $3 billion from selling all of his XRP over the years, while Britto's holdings are difficult to trace.

BitMEX Research has estimated that Britto received 1 billion XRP in 2012, subject to a lock-up agreement, while an SEC filing suggests he may have received 2 billion XRP instead.