July was marked by the end of the trial between the SEC regulator and Ripple Labs in favor of the latter, which led to a sharp increase in the XRP token to a price above USD 0.9, but then a rollback followed after the first emotional reaction.
By the way, the trial is not completed yet. As it became known, the SEC intends to appeal the court's decision.
→ The price of the XRP token may fall after the SEC formally files an appeal.
→ The price of the XRP token has rolled back by more than 2/3 from the July rapid growth — this is too deep a size for a normal correction.
→ The price dropped to the important support zone 0.530 – 0.575, which repeatedly affected the price dynamics of the XRP token in 2021-2023.
→ Long lower shadows on the intraday XRP/USD charts may indicate that the support effect from this zone has already begun. Similar reversals can be observed, by the way, in a similar zone 0.404 – 0.424.
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