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Ahmed Balaha
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Ahmed Balaha
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In a surprising move, the Madras High Court in India has officially ruled that cryptocurrencies are “property capable of being owned and held in trust”, basically giving it full legal recognition under Indian law.
The case began when a user named Rhutikumari sued WazirX after the exchange froze his account, which held 3,532.30 XRP worth about $9,400. The problem stems from WazirX’s response to a massive hack of $235 million in July 2024. To cover the losses, the exchange came up with a “loss socialization” plan, meaning that everyone’s funds take a hit to share the damage.
Rhutikumari was not having, and neither was the court. The judge ruled in his favor. Preventing WazirX from touching his XRP and ordering him to provide a bank guarantee of around $11,500 while the case continues.
Why does this matter and could it unlock global legal recognition?
This ruling is a big win for Indian crypto holders as it officially confirms that owning crypto in India is legally protected, just like any other type of property. It gives investors a stronger legal basis in cases such as hacking, frozen accounts, or exchange problems.
One of the biggest problems with crypto around the world has always been legal “fuzziness”. No one knows exactly how it is treated under the law.
Eliminating this could seriously boost investor confidence, attracting more adoption. It may even push domestic demand for assets like XRP if other countries follow India, the United States, the United Kingdom and ​​Singapore in treating crypto as property.
XRP Price Prediction: Is A $3 Return On The Way?
Ripple USD (RLUSD) has officially entered the top 10 USD stablecoins in less than a year, crossing the $1 billion market cap. With Ripple expanding its XRP-powered ecosystem and securing new partners, momentum is clearly building as the chart continues to show a steady build-up around the 2.00-2.60 range.
If XRP stays above 2.00, it should be good. Especially since the current correction is more of a broader market problem. Right now, the price of XRP is in that key demand zone where buyers usually intervene to stop the fall and push things higher.
You can already see a small reaction forming, and if it holds, XRP could start climbing towards $2.30, $2.50, and maybe even $2.70.
The RSI is around 50, which shows that things are fairly balanced for now. But if XRP falls below $2, that setup falls apart, and a deeper pullback will follow.
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This deflation design helps keep supply low and supports long-term value for players and token holders.
Even before the launch, players can already stack tokens and earn a wild 627% APY. It brings back that early Bitcoin mining vibe, except this time, it’s completely virtual, easy to join.
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