A recent legal analysis published in May 2025 by Professor James C. Spindler of the University of Texas, released through William & Mary Law School, examines the economic nature of XRP. The study argues that purchasing XRP could be more than simply a digital asset purchase; it allows holders to indirectly participate in Ripple’s future financial outcomes. This perspective has been presented publicly by independent crypto researcher SMQKE on X and has sparked significant debate within the XRP community. This analysis adds fresh insights into the ongoing conversation surrounding XRP’s legal and financial status, particularly in light of Ripple’s long-standing conflict with the U.S. Securities and Exchange Commission (SEC). 📈💰