Ripple boss clarifies: Who are the real XRP stakeholders?
Ripple CTO David Schwartz names the real XRP stakeholders and discusses the importance of XRPL on November 7th, 2025.

Ripple boss clarifies: Who are the real XRP stakeholders?
In a recent discussion on social media, Ripple CTO David Schwartz commented on the real stakeholders of the XRP network. In his article he defines different user groups that are important for the success and use of the blockchain.
Identified stakeholders include users who conduct transactions, including payments and token transfers. Schwartz also cites individuals who are interested in operating as their own bank, particularly given the emphasis on decentralization. Another important stakeholder are people who operate nodes, not for the purpose of maximizing profits, but for personal benefit.
Value of Ripple and criticism of its use
A recent report states that Ripple's value is highly tied to its XRP holdings, especially after a $500 million funding announcement. This statement is supported by a venture capitalist who points out that Ripple's technology is not widely used.
In addition, it is reported that the use of the XRP Ledger (XRPL) in organic transactions is considered to be low. Some users criticize the report and argue that the low network fees on XRPL should not necessarily be equated with Ripple's overall valuation.
Validation in the network
Another key point Schwartz highlights is the way validation works on the XRPL. Unlike Bitcoin, where miners are paid for their work, or Ethereum, where stakers are rewarded, participation in validation in XRPL is voluntary. This structure, Schwartz says, avoids the intervention of middlemen, allowing users to conduct transactions at no additional cost.
He argues that a blockchain network that operates without paid middlemen is more beneficial for users. This could further increase the trust and attractiveness of XRPL for potential users.
The prospects for Ripple and the use of XRP remain an exciting topic that is being intensively discussed both on social media and in professional circles. David Schwartz's views provide valuable insight into the considerations surrounding the actual usage and stakeholders of the XRP network.