Key takeaways
- HYPE recovered to $81.88 after falling to approximately $77.59 following hotter-than-expected US producer inflation.
- Ripple Prime introduced institutional RWA perpetual swaps referencing more than 100 Trade.xyz markets on Hyperliquid.
- HYPE faces resistance at $83.10, while support lies around $76.30–$75.70.
HYPE recovers after inflation-driven selloff
Hyperliquid’s HYPE token rebounded toward $82 on Friday, recovering from an intraday decline as new institutional trading initiatives drew attention to the platform.
HYPE traded at approximately $81.88 at the time of this report, up 0.8% over the previous 24 hours. Earlier, the token fell to around $77.59 after a stronger-than-expected US inflation reading.
September’s Producer Price Index rose 6.3% year over year, exceeding expectations of 5.3%. The surprise renewed concerns about the Federal Reserve’s interest rate outlook and weighed on risk-sensitive assets.
Leveraged bullish positions absorbed most of HYPE’s liquidation losses. CoinGlass data showed approximately $7 million in long liquidations, compared with $810,000 in short positions.
Although the rebound restored HYPE above $80, the token remained below important short-term moving averages.
Ripple announced Thursday that Ripple Prime had introduced real-world asset perpetual swaps covering more than 100 reference markets.
The products span equities, equity indices, exchange-traded funds, metals, energy and foreign exchange. Trading and settlement are available around the clock, including weekends.
The swaps reference Trade.xyz perpetual futures listed on Hyperliquid. Ripple Prime acts as the principal counterparty, giving institutional clients access through its brokerage services rather than requiring them to trade directly on the decentralized platform.
The offering expands the connection between institutional brokerage services and Hyperliquid’s derivatives infrastructure. However, the launch does not establish a direct or immediate increase in demand for HYPE itself.
RLUSD collateral and cross-margining support the offering
Eligible clients can use Ripple’s RLUSD stablecoin as collateral for the new swaps. Ripple Prime also supports cross-margining across eligible asset classes, allowing institutions to manage collateral requirements and portfolio risk across multiple positions.
Offsetting exposures may reduce margin requirements, depending on the portfolio and applicable rules.
Market maker Virtu is among the institutions already using the products, according to Ripple.
The service is currently offered through Ripple Prime’s CIV BVI license. Ripple plans to expand availability to additional regions but has not provided a timetable.
Separately, EQX Labs announced plans to introduce 11 tokenized US equity and ETF markets on Hyperliquid’s HyperCore infrastructure.
The proposed lineup includes exposure to Apple, Nvidia, Amazon and Tesla, alongside ETFs tracking major US markets.
According to EQX, the tokens will trade on Hyperliquid’s public order book and will each be backed by shares held in custody.
These planned products differ from the perpetual derivatives Ripple Prime referenced. Together, the initiatives point to a broader range of traditional-market exposures being developed around Hyperliquid.
HYPE faces resistance at the 50-Day EMA
HYPE’s daily chart retains a slightly bearish tone despite the rebound. The token remains above its 100-day Exponential Moving Average at $76.30 but below the 50-day EMA at $83.10 and the 20-day EMA at $85.40.
That positioning suggests longer-term support remains intact while short-term recovery attempts face overhead resistance.
The Relative Strength Index stands near 43, below its neutral midpoint. Meanwhile, the Stochastic Oscillator is around 20, indicating weak momentum near oversold territory without confirming a reversal.
Initial resistance sits at $83.10. Above that, the horizontal barrier at $85 and the 20-day EMA at $85.40 form the next resistance area. A sustained recovery through those levels would bring $97.80 into focus.
On the downside, the 100-day EMA at $76.30 and horizontal support at $75.70 form an important defensive zone. Losing that area could expose successive support levels at $67.60, $61.10 and $51.50.
