XRP News: Ripple Former CTO Backs New XRPL Meme Coin With Trust Line
Highlights
- Ripple CTO Emeritus David Schwartz added trust line for the FUZZY meme coin on XRPL.
- He clarified that he is not endorsing the token but believes that it's a fun community.
- The FUZZY coin has exhibited strong performance lately with about 49% gains in a month.
In XRP news today, David Schwartz, former CTO of Ripple, has sparked a discussion in the XRP community. Netizens reacted as Schwartz announced that he has added a trust line to a new meme coin on the XRP Ledger.
XRP News: David Schwartz Adds Trust Line For FUZZY Coin
On X, Schwartz posted, “As I promised, I have added a trust line for $FUZZY.” However, he made it clear that he was not endorsing the project in any way.
He said, “This is not an endorsement of the project in any way. I know much less about this project than you probably think. But I do think it’s a fun community.”
As I promised, I have added a trust line for $FUZZY.
This is not an endorsement of the project in any way. I know *much* less about this project than you probably think. But I do think it's a fun community.https://t.co/vU1nmhMML7
— David 'JoelKatz' Schwartz (@JoelKatz) May 3, 2026
For context, on XRPL, a trust line is an option that enables users to store and trade tokens that are issued by other accounts. Users will have to explicitly build trust with the issuer by establishing a limit to show that they are willing to accept that asset. This is the core of the operation of non-native assets on the network.
The token under consideration in the XRP news today is Fuzzybear (FUZZY), a meme coin on the XRPL. It is inspired by a famous 2014 decentralized exchange order where a user offered 1 XRP to 1 BTC: an anecdote that has since become XRPL lore. FUZZY has been placed as a community-based asset with an overall supply of about 321 billion tokens.
The FUZZY meme coin has gained massive traction since April with a surge of about 49% in the one-month timeframe. It also boasts a 13% increase in the past week. However, on Sunday, the FUZZY coin price dropped 3.46% to $0.00005611.
Ripple CTO Emeritus Ditches Conspiracy Theories
In a separate XRP news update, Schwartz rejected conspiracy theories around Ripple. He noted that the company doesn’t have any “secret plan” involving XRP. In addition, he smashed the hype around the $10,000 XRP price target for the next decade.
He said that such a surge doesn’t seem plausible in the next 10 years. To justify his comment, he mentioned that if the value of $10,000 per XRP was possible, the rich would have already started investing in XRP, which is not the case as of now.
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