Indian Court Intervenes in WazirX XRP Distribution Related to 2024 Hack

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Oct 27 2025

XRP-1.873%

SATS-0.71999997%

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High Court Ruling: An Indian high court ordered WazirX's operator, Zanmai Lab, to provide a bank guarantee of approximately $11,800 amid arbitration proceedings related to a user's frozen XRP holdings following a significant cyberattack in 2024.
Legal Status of Cryptocurrency: Justice N. Ananad Venkatesh declared cryptocurrency as property that can be held in trust, complicating the claims process for users due to WazirX's parent company being based in Singapore.
Restructuring Plan: Following the 2024 hack, Zettai developed a restructuring plan under Singapore's legal framework, which was approved by the Singapore high court, aiming to facilitate repayments to affected users.
WazirX Relaunch: WazirX announced the restart of its operations after a year-long hiatus due to the hack, marking the first step in a phased reboot of its trading platform.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1.073	1.171	1.276	1.374	1.479	1.578	1.682
Fibonacci	1.171	1.249	1.297	1.374	1.452	1.5	1.578

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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