Training effect? Stellar (XLM) catches up with XRP price gains

XLM has been the most overbought since April 2021, raising the risks of a 30% price decline by September.

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Stellar (XLM) benefits from Ripple's partial victory against the US Securities and Exchange Commission (SEC), up around 60% since the July 13 court ruling.

XRP Fuels XLM Price Rally Again

The price of XLM has risen more than 60% since July 13, when a federal judge ruled that sales of XRP on public exchanges did not violate US securities laws. Still, the token is down around 20% from its local peak of $0.195 and changed hands for around $0.154 on July 23.

XLM/USD daily price chart. Source: TradingView

XLM's rising price period appeared alongside the token's increasing positive correlation with XRP on the daily timeframe. As of July 23, the correlation coefficient between the two assets was 0.95, suggesting that they are moving in an almost perfect tandem.

XRP/USD and XLM/USD daily correlation coefficient. Source: TradingView

Price trends in XLM...