XRP News Today: Ripple CTO Reveals Early XRP Purchase at $0.006

Ripple’s Chief Technology Officer, David Schwartz, has stunned the XRP community by revealing that he initially purchased XRP at a mere $0.006. This disclosure came in response to a social media user who claimed that early adopters entered the market at $0.50, a figure that Schwartz’s revelation significantly undercuts. The unusually low price point suggests that Schwartz was involved with XRP much earlier than most traders, entering the market during its initial trading stages before it gained mainstream interest.

Schwartz has been a key figure in Ripple and the XRP Ledger since its inception. Unlike some of his counterparts, he did not receive a large share of XRP as compensation. Instead, he was given a salary and a 2 percent interest in the company. This strategy differed from that of Ripple co-founders, who owned a significant portion of XRP. One co-founder, McCaleb, sold off his XRP and subsequently started the Stellar project, while Larsen remains an executive at Ripple.

Schwartz’s recent comment not only confirmed his early investment but also highlighted his long-term dedication to Ripple’s technology. As the chief architect behind the XRP Ledger, he has remained closely connected to the project’s evolution over the years. In the past, Schwartz revealed that his father bought over a million XRP in 2014 at an even lower price of $0.005. However, Schwartz did not specify the quantity of XRP he personally purchased or the number he might have bought afterward, leaving room for speculation about the size of his current position.

Community reactions to the $0.006 disclosure were swift, with many expressing surprise at how early Schwartz was involved. The revelation has given the community a rare glimpse into the early monetary decisions of a top Ripple executive. Schwartz’s entry into XRP at such a low price, combined with his technical role in the project, underscores his strong affiliation with Ripple and the XRP Ledger. This disclosure has not only rewritten the timeline of early XRP investments but also reinforced Schwartz’s commitment to the project’s success.