Who created XRP?
Quick Answer
XRP and the XRP Ledger were created by David Schwartz, Jed McCaleb, and Arthur Britto. Development began in 2011, and the ledger went live in June 2012. Chris Larsen joined shortly after to co-found the company now known as Ripple.
XRP and the XRP Ledger were created by three visionary technologists: David Schwartz, Jed McCaleb, and Arthur Britto. Their collaborative effort began in 2011, and the XRP Ledger officially went live in June 2012.
The Founding Team
David Schwartz (CTO of Ripple) David Schwartz, known online as "JoelKatz," is the chief architect of the XRP Ledger and currently serves as Ripple's Chief Technology Officer. With a background in cryptography and distributed systems, Schwartz designed the consensus protocol that powers the XRPL. He's widely regarded as one of the most brilliant minds in blockchain technology.
Jed McCaleb Jed McCaleb is a serial entrepreneur in the cryptocurrency space. Before co-creating the XRP Ledger, he founded Mt. Gox, which became the world's largest Bitcoin exchange (before its infamous collapse under different ownership). After leaving Ripple in 2013, McCaleb went on to create Stellar (XLM), another payments-focused blockchain.
Arthur Britto Arthur Britto is the most enigmatic of the three founders. A close collaborator of Schwartz, Britto played a crucial role in designing the XRP Ledger's architecture and tokenomics. He maintains a low public profile compared to his co-creators.
The Birth of Ripple
Shortly after the XRP Ledger launched, Chris Larsen joined the team to co-found the company initially called NewCoin, then OpenCoin, and finally Ripple Labs (now simply Ripple). Larsen brought business and fintech experience, having previously co-founded E-Loan and Prosper Marketplace.
The founding team made a pivotal decision: they gifted 80 billion of the 100 billion XRP tokens to the company (then called OpenCoin) to fund development and incentivize adoption. This decision would later become central to the SEC's lawsuit against Ripple.
Timeline of Key Events
- •2011: Development of the XRP Ledger begins
- •June 2012: XRP Ledger goes live with 100 billion XRP created
- •September 2012: OpenCoin (later Ripple) is incorporated
- •2013: Jed McCaleb departs, later founds Stellar
- •2015: Company rebrands to Ripple Labs, then Ripple
- •2017: Brad Garlinghouse becomes CEO
- •2017–2018: XRP reaches all-time high of $3.84
- •2020: SEC files lawsuit against Ripple
- •2023: Judge Torres rules XRP is not a security on exchanges
The creation of XRP represented a fundamentally different approach to cryptocurrency — one focused on speed, efficiency, and real-world financial utility rather than the libertarian ideology that drove Bitcoin's creation.