"The former Ripple CTO couldn't resist poking fun at the coincidence. "It's because I retired," he joked on X . "Next I'll try cutting my hair." The quip landed perfectly. Schwartz had just transitioned to CTO Emeritus after 13 years leading Ripple's technology organization. But while the "Schwartz Effect" made for good memes, the real drivers behind XRP's rally run deeper: record ETF inflows, post-SEC clarity, and improving risk appetite across crypto markets."
"David Schwartz officially stepped back from day-to-day CTO duties at Ripple on January 1, 2026. He announced the transition in October 2025, citing family time and personal projects as priorities. The move wasn't a surprise, but its timing coincided almost perfectly with XRP's sharpest single-day gain in months. On January 5, software engineer Vincent Van Code asked what was driving XRP's sudden move."
XRP surged about 20% in early January, reaching $2.40 after a period of weaker prices. The price move coincided with David Schwartz stepping back from daily CTO duties and becoming CTO Emeritus on January 1, 2026. A deadpan retirement quip from Schwartz sparked "Schwartz Effect" memes and social-media attention. Schwartz moved to the board and took an advisory role at Evernorth while citing family time and personal projects. Market fundamentals — notably record ETF inflows, clearer post-SEC regulatory signals, and a broader uptick in crypto risk appetite — provided the main impetus for the rally.
Read at 24/7 Wall St.
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