Emergency Filing in Ripple SEC Case Sparks XRP Price Speculation

On April 3rd, Justin W. Keener filed an emergency request in the Ripple Labs vs SEC lawsuit, claiming to have “decisive evidence” favoring Ripple. He previously faced penalties exceeding $10 million for unregistered penny stock activities.

Key developments:

Coinbase filed with the CFTC to begin futures trading for XRP on April 21st.
The SEC held a closed-door meeting on the same day, but did not announce any changes regarding the programmatic sales of XRP.
XRP price increased by 3.92% to $2.06 but has dropped 17% over the past month.
Technical analysis shows resistance at the 20-day EMA of $2.22, with potential breakout indicators from Bollinger Bands.
Analyst Ali Martinez identified a head-and-shoulders pattern suggesting a possible decline to $1.30.
Contrarily, analyst Dark Defender maintains a bullish outlook, projecting potential targets of $3 and even $5.85 based on Elliott Wave analysis.

The market remains uncertain as XRP’s price action continues to be analyzed amidst ongoing legal and regulatory developments.