In a surprising move, the Madras High Court in India officially ruled that cryptocurrencies are “property capable of being possessed and held in trust,” basically giving them full legal recognition under Indian law.
The case started when a user named Rhutikumari sued WazirX after the exchange froze her account, which held 3,532.30 XRP worth around $9,400. The issue traced back to WazirX’s response to a massive $235 million hack in July 2024. To cover the losses, the exchange came up with a “socialization of losses” plan, meaning everyone’s funds would take a hit to share the damage.
Rhutikumari was not having it, and neither was the court. The judge ruled in her favor. Stopping WazirX from touching her XRP and ordering them to provide a bank guarantee of about $11,500 while the case continues.
Why This Matters and Could This Unlock Global Legal Recognition?
This ruling is a big win for Indian crypto holders since it officially confirms that owning crypto in India is legally protected, just like any other type of property. It gives investors a stronger legal base in cases like hacks, frozen accounts, or exchange troubles.
One of the biggest issues with crypto worldwide has always been legal “fuzziness.” No one knowing exactly how it’s treated under the law.
Clearing that up could seriously boost investor confidence, attract more adoption. Maybe even push up domestic demand for assets like XRP if other countries follow India, the US, the UK, and Singapore in treating crypto like property.
XRP Price Prediction: Is a $3 Comeback on the Way?
Ripple USD (RLUSD) has officially entered the top 10 USD stablecoins in under a year, crossing the $1 billion market cap milestone. With Ripple expanding its XRP-powered ecosystem and securing new partnerships, momentum is clearly building as the chart continues to show steady accumulation around the 2.00–2.60 range.
Source: XRPUSD / TradingViewIf XRP stays above 2.00, it should be fine. Especially since the current correction is more of a broader market issue. Right now, XRP’s price is sitting in that key demand zone where buyers usually step in to stop the drop and push things higher.
You can already see a small reaction forming there, and if it holds, XRP could start climbing toward the $2.30, $2.50, and maybe even $2.70 levels next.
The RSI is hovering around 50, showing things are pretty balanced for now. But if XRP slips under $2, that setup falls apart, and a deeper pullback would likely follow.
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Visit the Official Website HereThe post XRP Price Prediction: Landmark Ruling in India Says XRP Is ‘Property’ – Could This Unlock Global Legal Recognition? appeared first on Cryptonews.
