Technical analysis by HayeTrading about Symbol XRP on 8/20/2023

XRP Legal Case Update📜 The SEC has appealed Judge Torres' decision on XRP's status 🏛. Ripple wants the primary lawsuit to move forward despite the appeal ⚖️. The appeal's acceptance can shape the lawsuit's future 🔄. SEC's focus: XRP sales, not the asset itself 💵. SEC's appeal might extend the lawsuit by 3-6 months ⏳. XRP price doubled following the temporary lawsuit conclusion on July 13 📈. SEC's appeal might resonate with Coinbase and Dragonchain cases 🌐. Ripple's deadline for the SEC motion response: Sept. 1, 2023 ⏰. XRP's Market Position:📊 XRP's recent performance: +16% from lows, but -20% this week 🔺🔻. XRP is 50% down from its yearly peak 📉. XRP price showed resilience, bouncing back 18% after a 28% drop 🪂.