India’s Madras High Court recognized cryptocurrency as property, confirming that assets like XRP are capable of being owned and held in trust under Indian law. The ruling came in a case involving a user’s 3,532.30 XRP on WazirX, frozen after a 2024 cyberattack. The court issued an interim order stopping any reallocation of those tokens.
The order cites India’s Income Tax Act Section 2(47A), which classifies crypto as virtual digital assets. The judge emphasized that the exchange does not own the customer’s crypto and restrained Zanmai Labs (WazirX operator) from interfering with the user’s holdings pending further proceedings. This sets out, in plain terms, user ownership versus platform control.
Coverage today stressed that the decision has immediate, practical impact for customers with frozen balances on local platforms. It also clarifies jurisdiction, as the court accepted the case due to fund origin and transaction ties to Chennai. Reporting frames the order as a procedural protection for users while broader questions continue in arbitration.
Ripple leadership today: XRP remains central to Ripple’s strategy
Brad Garlinghouse reiterated that XRP remains at the heart of Ripple’s strategy. Today’s coverage quotes him underscoring XRP’s role across payments and infrastructure, even as Ripple integrates acquisitions and expands institutional services. The message keeps XRP’s utility in focus without introducing a new product launch.
Reports align his remarks with Ripple’s ongoing build-out, where XRP’s function complements components like stablecoin collateral and prime-brokerage workflows. The emphasis is on XRP’s place in the company’s long-term architecture rather than near-term market moves. This keeps attention on non-price developments.
Today’s summaries also link the statement to recent institutional context, but they present the CEO’s line as a clear reaffirmation made today. The coverage positions XRP as core to product direction and client offerings inside Ripple’s stack.
XRP 1-hour chart: inverse head-and-shoulders structure, breakout in progress
The chart shows three rounded swing lows marked with arcs. The middle low dips the deepest, which forms the head, while the first and third arcs form the left and right shoulders. This geometry outlines a classic inverse head-and-shoulders on the 1-hour XRP/USDT chart from Binance.
Next, price advances away from the right shoulder and pushes through the horizontal band connecting the interim swing highs. That band acts as the neckline. Because candles now trade above that line and print higher highs, the market signals an early breakout rather than a mere bounce. In trend terms, structure shifts from lower highs to higher highs and higher lows.
However, confirmation still matters. The strongest confirmations usually include sustained closes above the neckline and, ideally, a retest of that line that holds as support. If buyers defend that area, continuation becomes more probable. If price slips back below and closes under the neckline, the breakout weakens and the pattern loses reliability.
Risk is easy to frame on this setup. The right-shoulder low defines the invalidation point for the pattern. As long as price holds above that low, the inverse head-and-shoulders remains valid. If price closes beneath it, the structure fails and the chart returns to range behavior.
Finally, note that the screenshot does not show volume. Volume expansion often accompanies clean inverse head-and-shoulders breakouts. Therefore, check the live chart: rising volume on the push above the neckline strengthens the read; flat or falling volume makes the move more fragile.
