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17 hour ago
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BULLISH 📈 : Hyperliquid HYPE gains 6.2% after Ripple integration approval

A volatile trading session on February 5 highlighted contrasting movements in the crypto market:

  • Hyperliquid's HYPE gained 6.2% following integration with Ripple’s ecosystem, showcasing selective optimism tied to infrastructure upgrades.
  • XRP declined by 10%, affected by broader market pressures rather than specific project issues.

HYPE Rallies After Ripple Integration

  • HYPE price increased by 4.23% after integrating Ripple's technology stack, enhancing interoperability and settlement efficiency.
  • The increase was seen as a practical enhancement amidst a bearish market, with traders favoring assets linked to network developments.
  • Bitcoin traded near $71,000 after a pullback, while total crypto market capitalization fell over 6% during the day.

XRP Slips as Market Weakness Dominates

  • XRP dropped nearly 11% over 24 hours, alongside Ethereum, Solana, and BNB, due to diminished risk appetite.
  • The decline was amplified by derivatives activity and forced liquidations, reflecting a defensive market tone.

Broader Market Context Remains Fragile

  • Market volatility spiked due to stalled discussions on US crypto market regulations and stablecoin debates, resulting in over $800 million in liquidations.
  • Institutional shifts continued, with Grayscale removing Cardano from its ETF in favor of BNB, focusing on liquidity and market depth.

Hyperliquid’s rally suggests targeted integrations attract interest despite wider market weakness, but sustained growth will depend on genuine adoption.