Ripple CTO Says XRP Isn’t Here To Replace Banks, So What Is Its Main Use?

Ripple’s Chief Technology Officer, David Schwartz, has clarified that XRP’s core purpose is to give individuals direct control over their money. In a recent post on the social media platform X, Schwartz highlights how XRP is not intended to replace banks but rather facilitates the free movement of value without centralized control or intermediaries.

Ripple CTO Clarifies XRP’s Use

In the X post , David Schwartz explains that XRP aims to change how value moves. The digital asset allows individuals to act as their own bank by sending and receiving funds directly, without go-betweens taking a share, setting limits, or imposing additional controls. He notes that XRP’s self-sovereign model supports open, borderless, and inclusive financial systems.

Schwartz explains that XRP’s str