I would look at the QAD Ultra Rest HD instead. I had the ripcord but sold it to get the QAD. It had the same features plus extras that I really liked. For example, with the ripcord I had, if I was at full draw and let my bow down, the rest would also drop down, thus dropping my arrow too. The QAD rest will stay up and locked even if the draw is let down. It only drops when the bow is fired.
The QAD also has something they call "let down technology" Which basically is when the bow is fired and the rest drops down, some fall aways will have "bounce back" and possibly contact the fletching as it travels by or create extra noise by bouncing twice. Let down technology claims to stop the rest and lock it in the down position once the bow is fired.
All that being said, I have not looked at the new ripcord code-red. It may have some of these features. I couldn't say. I don't think the previous ripcord did, however.