Ripple’s former chief technology officer, David Schwartz, disclosed that he has not purchased XRP for an extended period and has sold nearly all of his digital‑asset holdings. His comments were made as XRP continued to decline, trading near $1.06 after a 17.2% drop over the past week.
Schwartz’s Reduced Crypto Portfolio
Schwartz reported that his cryptocurrency holdings have shrunk significantly from their peak levels:
- XRP: reduced from roughly 26 million to about 3 million.
- Bitcoin: reduced from roughly 1,500 BTC to 1 BTC.
- Ether: reduced from roughly 40,000 ETH to 6 ETH.
He indicated that he still holds a notable amount of Ripple stock, which he described as carrying more risk than he prefers. Schwartz has previously stated a strong aversion to risk and follows a practice of selling portions of his crypto each time it reaches a new high.
Current XRP Price Action
Market data shows XRP trading near $1.06, down 2.5% in the last 24 hours and 17.2% over the past seven days, making it one of the weaker performers among the top ten cryptocurrencies.
Technical Outlook
Analysts note that XRP remains in a falling channel with strong downside momentum. The token has slipped below the $1.10 level, which corresponds to the 78.6% Fibonacci retracement that bulls had hoped would act as support. The next support area is identified around $1.04‑$1.05, representing the 88.6% retracement, followed by a low near $1.00.
Resistance levels are seen at $1.19‑$1.24 and $1.34‑$1.35. A clear break above $1.24 could signal the start of a recovery, while failure to hold above the support zones may lead to further declines, especially if Bitcoin experiences additional weakness.
