{"id":388816,"date":"2023-04-27T16:00:45","date_gmt":"2023-04-27T16:00:45","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=388816"},"modified":"2023-04-27T08:42:07","modified_gmt":"2023-04-27T08:42:07","slug":"ripple-price-forecast-xrp-suffers-in-the-hands-of-market-woes-but-bullish-momentum-holds-heres-what-to-expect","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ripple-price-forecast-xrp-suffers-in-the-hands-of-market-woes-but-bullish-momentum-holds-heres-what-to-expect","title":{"rendered":"Ripple Price Forecast: XRP Suffers In The Hands Of Market Woes But Bullish Momentum Holds, Here’s What To Expect"},"content":{"rendered":"

Ripple (XRP<\/a>) price has displayed a rather volatile price action since late March. This came amid the woes about its case against the United States Securities and Exchange Commission (SEC<\/a>). On April 19, the remittance token made a decisive move southward, dropping 15% to find a base around $0.449, psychological support offered by an uptrend line.<\/p>\n

As bearish sentiment around XRP continued, the altcoin slumped below the ascending trendline to record an intra-day low of $0.432 on April 26. However, the altcoin found new strength after pro-Ripple attorney John E. Deaton informed the altcoin holders of a class action lawsuit hearing.<\/p>\n

Ripple Labs Class Action:\u00a0 Zakinov v. Ripple<\/h2>\n

A new hearing in the class action case against Ripple Labs christened Zakinov v. Ripple, occurred on April 26\u00a0at 1:30 p.m. PT (4:30 p.m. ET) in a federal court in California.<\/p>\n

The hearing focused on oral arguments concerning the certification of the class of XRP holders suing Ripple. Notably, the case was accessible to a limited public, with the judge opening online access for 500 members of the public to attend the hearing. The case, originally filed in 2020, involved plaintiff Bradley Sostak, the owner of XRP, for a brief 14-day period.<\/p>\n

In the case, Sostak wanted to be named lead plaintiff and be the main representative for all XRP holders who either owned or traded the remittance token<\/a> during the relevant period. This group was slamming Ripple and holding the belief that XRP is a security.<\/p>\n

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NOTICE to XRP Holders:
Tomorrow (Wed., April 26) at 1:30pm PT (4:30pm ET) a hearing will take place in federal court in CA on the class action case filed against @Ripple<\/a> (In Re Ripple Labs\/Zakinov v. Ripple) from 2020.<\/p>\n

(1\/3) The judge has opened online access to 500 members of\u2026 pic.twitter.com\/h8z0jyCIsF<\/a><\/p>\n

— CryptoLaw (@CryptoLawUS) April 25, 2023<\/a><\/p><\/blockquote>\n