India’s Court Rules XRP Property, Bars WazirX Redistribution
In October 2025, the Madras High Court held that XRP qualifies as legal property and blocked WazirX’s plan to redistribute user holdings after the July 2024 hack that stole $234 million. The court’s XRP property ruling establishes that tokens purchased before the breach remain protected under the exchange’s custodial duty and confirms assets on exchanges are client property held in trust. With 95.7% creditor approval, WazirX has resumed operations, though users have recovered only 30% of assets. By defining XRP as property, the decision strengthens legal recourse for investors, sets a key precedent for India’s crypto regulation and obliges exchanges to enhance security protocols, update terms of service and adopt clear loss-recovery strategies. For traders, this XRP property ruling may boost confidence in regulated custody practices and market stability.
Bullish
The Madras High Court’s XRP property ruling and reinforced custodial duty reduce counterparty risk and enhance investor protections. In the short term, clearer ownership rights and trust obligations are likely to spur buying pressure as traders anticipate more reliable exchange practices. Over the long term, this legal precedent paves the way for robust crypto regulation in India, attracting institutional inflows and elevating XRP’s market credibility. Together, these factors support a bullish outlook for XRP.