Ripple CTO Exit Spurs XRP Dip and Rally, RLUSD Nears $800M
Ripple CTO exit: David Schwartz, a 13-year veteran and co-founder of the XRP Ledger, is stepping down from day-to-day duties to join Ripple’s board as an adviser, enabling him to focus on family and XRPL side projects while continuing development work. Following the Ripple CTO exit announcement, XRP slid 1.2% before rebounding 4% on a Bitcoin-driven market uptick after the U.S. government shutdown. On-chain and derivatives metrics signal bullish trader positioning, with Binance long exposure rising from 67% to 70% over three days amid three months of consolidation. Concurrently, Ripple’s US dollar–backed stablecoin RLUSD is approaching an $800 million market cap, fueled by $50 million in inflows via BlackRock and VanEck partnerships and expansion into African markets. Analysts view Schwartz’s advisory shift as a strategic realignment rather than a full departure and caution that RLUSD’s growth may bolster Ripple’s payments ecosystem without guaranteeing sustained XRP price gains. Traders should monitor on-chain metrics, derivatives flows and broader crypto catalysts for XRP’s next directional move.
Bullish
The Ripple CTO exit initially triggered a 1.2% XRP price drop, but a subsequent 4% bounce alongside Bitcoin’s rally and rising long positions (from 67% to 70%) on Binance indicate renewed bullish sentiment. RLUSD’s strong growth, nearing an $800M market cap due to institutional inflows, further underpins confidence in Ripple’s ecosystem. While analysts note that the advisory shift is strategic, not a full exit, the combined on-chain, derivatives and stablecoin developments suggest positive momentum for XRP in both the short and longer term.