BULLISH 📈 : Ripple Supports Hyperliquid, Boosting HYPE Token’s Market Rally

Ripple announced new support for Hyperliquid, a rapidly growing decentralized exchange (DEX), adding momentum to its native token, HYPE, amid a pressured market environment.

Key Developments

Ripple's institutional prime brokerage platform, Ripple Prime, has integrated with Hyperliquid.
This integration allows institutional clients to access on-chain derivatives liquidity and cross-margin DeFi positions alongside other assets supported by Ripple Prime, such as digital assets, foreign exchange, and cleared derivatives.
The move aims to enhance capital efficiency across both decentralized and traditional markets.
Michael Higgins, CEO of Ripple Prime, emphasized the strategy of bridging DeFi with traditional financial infrastructure, improving client access to liquidity.

Market Performance

XRP, Ripple’s associated cryptocurrency, decreased by approximately 20% over the past week, aligning with broader market trends.
Hyperliquid’s ecosystem has surged by about 64% in the last two weeks, outperforming during overall market weakness.
HYPE is trading above $34, with $35 identified as a significant short-term support area.
The token reached a high of $38 recently, marking its highest price since November last year.
A strong support base is noted around the $30 level, aiding in maintaining recent recoveries.

Hyperliquid