XRP Hits $3 As Ripple CTO David Schwartz Announces Retreat From Daily Company Involvement

Ripple‘s XRP (CRYPTO: XRP) touched the key $3 level, which comes after the announcement that CTO David Schwartz will step back from day-to-day responsibilities while continuing to serve on Ripple's board.

What Happened: Ripple CEO Brad Garlinghouse praised Schwartz as a visionary crypto pioneer, highlighting his monumental contributions to Ripple, the XRP Ledger, and the broader blockchain ecosystem.

Garlinghouse expressed gratitude that Schwartz will remain on the board to provide guidance, humorously noting that he'll now be "their boss from afar."

Schwartz reflected on his four-decade career, including NSA consulting, early involvement in Bitcoin, co-founding the XRP Ledger, and 13 years as Ripple's CTO.

He plans to return to personal passions like coding, tinkering, and exploring new XRP use cases.

Despite increased competition from SWIFT's blockchain initiatives and ConsenSys, Schwartz's ongoing board role ensures continued influence over XRP Ledger's development.

Also Read: XRP Spikes 5% As Whales Scoop Up $740 Million Worth Of Crypto: Open Interest, Trading Volume Also Jump

Why It Matters: Crypto trader CW believes this marks the start of a significant rally for XRP, citing momentum and the upcoming ETF approval expected by mid-October 2025. "Everything is perfect," he noted.

VivoPower International LLC (NASDAQ:VVPR) closed its equity raise with shares at $6.05, generating roughly $19 million, signaling strong market appetite for strategic equity moves amidst the crypto ecosystem's growth.

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