Former Ripple CTO David Schwartz has revealed that he has sold most of his XRP holdings as his riks tolerance decreased.
In a post on X, Schwartz disclosed that he once held around 26 million XRP but now owns approximately 3 million tokens – a roughly 90% decline.
“It’s not a secret. I think I’m down from a high of around 26 million XRP to around 3 million XRP. Down from around 1,500 BTC to 1 BTC. Down from around 40,000 ETH to 6 ETH,” Schwartz wrote.
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In addition, Schwartz’s Bitcoin (BTC) holdings have also dropped from approximately 1,500 BTC to just one, while his Ethereum (ETH) stash has fallen from around 40,000 ETH to only six.
Ripple stock is risky too, Schwartz says
Despite reducing his cryptocurrency exposure, Schwartz claims he continues to hold a substantial amount of Ripple stock. However, he has also admitted that this approach, too, leaves him exposed to more financial risk than he would prefer.
“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,” he added.
His posts come amid growing frustration within the XRP community over the cryptocurrency’s lackluster price performance. Notably, the cryptocurrency is trading at $1.06 at press time, November 11, having lost 25% over the past month.
While the price is indeed struggling to stabilize, Schwartz’s personal sales likely have very little impact on XRP’s market performance. Nonetheless, his words are illustrative of the market’s sentiment not just toward crypto but crypto-adjacent stocks as well
Featured image via Shutterstock
