Why I’m paying attention to XRPUSDT’s $1.3804 level and the 3.34% drop.

A research paper published in the William & Mary Law Review describes XRP buyers as, indirectly, having some kind of linkage to Ripple’s future cash flows.

This does not mean that XRP holders own a part of Ripple or that they have a legal right to its profits.

But the interesting part is the economic relationship.

If the payments infrastructure Ripple is developing keeps growing, and $XRP becomes more important within this ecosystem, then increased adoption and usage could create stronger demand for XRP.

So the real question isn’t: Do XRP holders legally own a share of Ripple’s cash flows?

The question is:

To what extent can $XRP capture the economic value generated by the expansion of the surrounding ecosystem?