The post XRP News: New Twist Emerges In Ripple SEC Case With Unusual Filing appeared first on Coinpedia Fintech News
Ripple’s XRP is back in the spotlight after a surprising new filing in the long-running SEC case. The unexpected twist, along with the upcoming launch of XRP futures on Coinbase, has raised concerns about its impact on the XRP price. With XRP struggling to hold the $2 support, these developments could trigger a major breakout or a sharp drop.
Unusual Filing Claims ‘Decisive Evidence’
According to a recent tweet by journalist Eleanor Terrett, a new twist has emerged in the ongoing lawsuit between Ripple and the SEC.
Eleanor pointed to an emergency request that was filed on April 3, claiming to provide strong evidence in Ripple’s favor. However, this request came from Justin W. Keener, who suggested that his evidence is linked to physical investment contracts he has collected.
However, the filing does not explain what this evidence is or how it might affect the case. Despite the lack of details, it has caught the attention of the crypto community.
Perhaps, the timing of this filing is also crucial. Ripple’s case with the SEC is expected to reach a major milestone on April 16.
Who Is Justin W. Keener?
A deeper look into Keener’s background reveals a controversial history. He has had his legal troubles with the SEC, which previously sued him for operating as an unregistered penny stock dealer. The case resulted in a court order requiring Keener to pay over $10 million in penalties.
Given his legal history with the SEC, his involvement in the Ripple case is raising questions about his true intentions.
Launch of XRP Futures on Coinbase
Another key development that could impact XRP’s price is the upcoming launch of XRP futures on Coinbase. The crypto exchange giant has filed with the Commodity Futures Trading Commission (CFTC) to introduce XRP futures trading on April 21.
This move is expected to attract institutional investors looking to manage risk through derivatives trading.
XRP Price Analysis
As of now, XRP’s price is stabilized near its $2 support, reflecting a rise of 2.7% in the last 24 hours, with a market cap hitting $122 billion. Looking at the daily chart pattern, if XRP drops below $2, it could fall sharply to $1.04, a possible 48% decline.
Therefore, the key level to watch is the 200-day Exponential Moving Average (EMA). XRP has stayed above this $2 support for months, but if it breaks below, recent gains could be lost. Meanwhile, the Relative Strength Index (RSI) is at 41, showing that sellers still have control.