XRP Ledger Marks 15 Years Since David Schwartz Began Development in 2011
The XRP Ledger (XRPL) has reached a 15-year milestone, marking the start of development by David Schwartz on November 11, 2011. The project, which later became the foundation for Ripple's blockchain-based financial services, was designed to provide an alternative to Bitcoin with a focus on efficient transactions and global payments.
According to the official XRP account on X, Schwartz began writing the network's first code in November 2011. He worked alongside Jed McCaleb and Arthur Britto to develop a blockchain that could process transactions without relying on Bitcoin's energy-intensive mining model.
How the XRP Ledger Developed Into a Payment Network
The XRP Ledger launched in June 2012, introducing a consensus-based mechanism for processing transactions and transferring digital assets. Its initial development later contributed to the formation of a company that would become Ripple.
In September 2012, Chris Larsen joined the founding group, which established a company initially named NewCoin. The business later changed its name to OpenCoin before adopting the name Ripple.
During the development period, the XRPL founders transferred 80 billion XRP to the company to support the ecosystem's growth. Ripple later established an escrow arrangement covering 55 billion XRP to manage its holdings and make the token's potential release schedule more predictable.
Under the escrow arrangement, up to one billion XRP becomes available for release each month. The structure was introduced as a way to manage the company's XRP holdings and provide greater predictability around supply.
Over time, the XRP Ledger expanded beyond basic cryptocurrency transfers. Its capabilities developed to support payments and other blockchain-based financial applications.
XRP ETF Milestone and Upcoming XRPL Upgrade
The 15-year anniversary also comes shortly after the first anniversary of the launch of a U.S.-listed spot XRP exchange-traded fund. Canary Capital introduced its XRPC fund on November 13, 2025, becoming the first issuer to launch a spot XRP ETF in the United States.
The fund's first anniversary falls two days after November 11, the date associated with Schwartz's initial development work on the XRP Ledger.
Separately, XRPL developers have scheduled version 3.5.0 for December 3, 2026. The update is expected to introduce technical improvements and network fixes, including a permanent correction for occasional delays in ledger closing times.
The planned correction follows temporary measures previously implemented by developers to address the issue. The release represents another stage in the network's ongoing technical development.
From its first lines of code in 2011 to its expansion into blockchain-based payment applications, the XRP Ledger has undergone significant development. Its 15-year milestone comes as the network prepares for another scheduled software update.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.