One of the easiest, quickest and "dirtiest cheats" is to use a Generator.
Go to Add Object > Generators > Generators > Concentric Shapes:
Turning this into your animation takes a couple of tricks.
Set the Width parameter to about 120 (to start - you can definitely fine tune this later).
Set the Contrast down to about 0.35 (again... playable).
Right click on the Phase and Add Parameter Behavior > Rate (you can adjust this to create the speed of animation) Set the initial Rate to about 100 (adjustable).
Add a Filters > Color > Threshold filter.
Set the Threshold to 1 and the Smoothness to about 0.03 (you do not want any pixelation along the edges of the circles).
Add a Circle Mask (centered) and increase the feathering so that the ripples taper off at the end of your animation:

If you want the ripples to begin from a single point, then animate the circle mask to start off with 0 radius and expand it to full size.
This is only one method — there are others... less easy.