As they say....not financial or legal advice. But I had always heard that co-conspirators in a crime could not sue each other over issues regarding such crime. This is because the agreement itself is deemed null and void for being illegal. If this was a security and if the buying and selling was illegal, then the law will not step in. Kind of like buying fentanyl on silk road and suing because you got baking soda. That argument won't get you into civil court, but it may get you into the criminal one.

But the big concern goes beyond XRP. In the unlikely event the plaintiff would get into court and actually win, then the vast majority of crypto's would be at risk.

What needs to happen is for congress to get together and create a new category of investment called Cryptocurrencies. They then need to take a 21st century look at these and make logical rules and regulations for these to flourish. The problem with them is they don't fit into the standard definitions. They are not stocks , they are not commodities and they are not government backed fiat currencies. Too much is at stake to let the courts, jurisdiction by jurisdiction create the law for this space.

Also lets assume for the sake of argument that XRP is far more valuable when the plaintiff goes to court that when they bought it. If XRP is at $5 they will get laughed out of court.

IMHO