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XRP Price Prediction: Landmark Ruling in India Says XRP Is ‘Property’ – Could This Unlock Global Legal Recognition?

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In a shocking transfer, the Madras High Court in India formally dominated that cryptocurrencies are “property able to being possessed and held in belief,” principally giving them full authorized recognition beneath Indian legislation.

The case began when a person named Rhutikumari sued WazirX after the change froze her account, which held 3,532.30 XRP value round $9,400. The challenge traced again to WazirX’s response to an enormous $235 million hack in July 2024. To cowl the losses, the change got here up with a “socialization of losses” plan, that means everybody’s funds would take successful to share the harm.

Rhutikumari was not having it, and neither was the court docket. The choose dominated in her favor. Stopping WazirX from touching her XRP and ordering them to supply a financial institution assure of about $11,500 whereas the case continues.

Why This Matters and Could This Unlock Global Legal Recognition?

This ruling is a giant win for Indian crypto holders because it formally confirms that proudly owning crypto in India is legally protected, similar to another kind of property. It offers traders a stronger authorized base in circumstances like hacks, frozen accounts, or change troubles.

One of the most important points with crypto worldwide has at all times been authorized “fuzziness.” No one understanding precisely the way it’s handled beneath the legislation.

Clearing that up might severely increase investor confidence, appeal to extra adoption. Maybe even push up home demand for belongings like XRP if different nations observe 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 formally entered the highest 10 USD stablecoins in beneath a 12 months, crossing the $1 billion market cap milestone. With Ripple increasing its XRP-powered ecosystem and securing new partnerships, momentum is clearly constructing because the chart continues to indicate regular accumulation across the 2.00–2.60 vary.

Source: XRPUSD / TradingView

If XRP stays above 2.00, it must be superb. Especially because the present correction is extra of a broader market challenge. Right now, XRP’s worth is sitting in that key demand zone the place consumers often step in to cease the drop and push issues larger.

You can already see a small response forming there, and if it holds, XRP might begin climbing towards the $2.30, $2.50, and perhaps even $2.70 ranges subsequent.

The RSI is hovering round 50, displaying issues are fairly balanced for now. But if XRP slips beneath $2, that setup falls aside, and a deeper pullback would doubtless observe.

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The publish XRP Price Prediction: Landmark Ruling in India Says XRP Is ‘Property’ – Could This Unlock Global Legal Recognition? appeared first on Cryptonews.

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