Keynote
Justin W Keener claims he has “conclusive evidence” in the Ripple vs. SEC lawsuit. The SEC held a closed door meeting on April 3rd, but no words have been made about Ripple. .
An unexpected emergency filing was submitted by Justin W. Keener on April 3rd. Justin W. Keener claimed he owned “conclusive evidence” that could affect the outcome of the long-standing Ripple Labs v. SEC lawsuit.
🚨new: @secgov vs. @ripple docket, now strange submission – an urgent request to “prove definitive evidence in favor of the defendant and in favor of the freedom of the American people.”
A letter from a man named Justin W. Keener doesn’t make the so-called …pic.twitter.com/aqsdfiw6gi clear
– Eleanorterrett (@Eleanorterrett) April 3, 2025
In his emergency filing, Keener argued that his owned data on the body investment contract could be important to Ripple, the Crypto sector, and even Congress. He was previously fined more than $10 million for unregistered penny stock transactions by US securities regulators.
This follows the major American company Coinbase to file a filing with the US Commodity Futures Trading Commission (CFTC) to debut futures trading for its fourth largest digital asset. This product is scheduled to be released on April 21st.
Closed door meeting
The SEC held a closed door meeting on April 3rd, and it was speculated that the agency would remove program sales for XRP arguments, but this did not happen. No official terms on the litigation have been made by regulators yet, leaving the market in scope.
Amidst regulatory uncertainty, XRP has become bullish, rising 3.92% to $2.06 over the past day. Altcoin has dropped by 17% over the past 30 days and has failed to regain its $3 price tag despite many attempts.
XRP Price Analysis
Technically, the daily chart below confirms that XRP encountered resistance on the $2.22 20-day Exponential Moving Average (EMA). Bollinger Bands (BB) shows tightening, indicating a potential breakout approaching.
If support for the $1.96 lower band is strong, there is likely a retest of the middle band resistance ($2.27) and an upper band ($2.5). The $2 price tag should be held tightly to see the next leg.
Source: TradingView
However, a relative strength index (RSI) of 38.71 suggests that it leaps towards bearish emotions and weakens momentum.
If XRP can’t retrieve the 20-day EMA, it could drop below immediate support at $2.02 and $1.95, which could accelerate downward movement.
Head and shoulder pattern
Famous analyst Ali Martinez has identified the head and shoulder breakdown of XRP’s price structure and predicts a potential decline to $1.30.
Head and shoulder patterns are well-known inversion indicators of changes in momentum. Based on the chart, the neckline has been violated, with a level of $2.10 and the pattern has been verified.
$XRP breaks out of the head and shoulder pattern and sets a potential movement stage at $1.30! pic.twitter.com/l5rle4exic
– Ali (@Ali_Charts) April 4, 2025
The measured movement of the head and shoulder pattern is calculated by taking the height from the head (approximately $3.20) to the neckline ($2.10) and projecting this downwards, resulting in a potential target of about $1.30.
In contrast to this bearish outlook, the analyst dark defender remains bullish, claiming that the XRP RSI is in a favorable position and that it is still within the bullish Elliott wave structure.
Hello, this is a monthly frame update that I shared in the first week of February.
#Bullish #No changes to XRP.
RSI is bullish. The A wave is complete.
B Wave is expected to be $3 and could potentially skip Wave C by moving on to the target at $5.85. (NFA)
Short…pic.twitter.com/mhbe1dt02j
– Dark Defender (@defenddark) April 4, 2025
According to him, the continuous correction is just a B-wave before a strong impulse moves towards $3, even a long-term goal of $5.85.
His short-term goals include $2.22 and $2.55, suggesting a potential upward move if XRP is able to regain key resistance levels.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information, but should not be considered financial or investment advice. Market conditions can change quickly, so we recommend that you review your information yourself and consult with an expert before making a decision based on this content.
A crypto journalist with over five years of experience in the industry, Perth has worked with leading media outlets in the Crypto and Finance world, gathering experience and expertise in this field after surviving the bear and bull market for many years. Perth is also the author of four self-published books.
Parth Dubey on LinkedIn
