David Schwartz argued that Ripple’s share buybacks do not necessarily work against XRP holders, saying that if Ripple’s XRP sales help fund buybacks and lower the token’s price, that same dynamic can also reduce the entry price for buyers. His comments came amid renewed debate over Ripple’s recent $750 million share repurchase at a $50 billion valuation.
One could equally well (actually, equally wrongly) make the argument that all of this is great for people trying to make a profit by holding XRP because it means that they can buy at a much lower price than they would have to otherwise.
— David 'JoelKatz' Schwartz (@JoelKatz) March 15, 2026
Schwartz was responding to criticism that XRP holders effectively subsidize Ripple while equity holders capture the direct corporate upside. He pushed back by saying a constant, well-known market factor does not uniquely harm holders, because whatever effect it has on price applies on both the buy and sell side. In his framing, lower prices caused by a visible and understood factor cannot automatically be treated as damage to XRP holders alone.
The next thing to watch is whether this argument remains a social-media skirmish or develops into a broader debate over how investors should value XRP relative to Ripple’s corporate actions. For now, Schwartz’s reaction has sharpened attention on the distinction between token ownership and equity ownership.
Source: David Schwartz (X).
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