Hyperliquid (HYPE) is consolidating near $29.64 after recent gains, with a key support zone at $28. Analysts note strong relative strength and controlled profit-taking. Separately, Ripple Prime announced institutional integration with Hyperliquid, expanding access to its onchain derivatives liquidity.
Hyperliquid (HYPE) traded at $29.64, down 0.85% over 24 hours with a 23% surge in daily volume to $214 million. The token saw a 0.41% weekly dip, indicating consolidation after a strong rally earlier this month. Market participants are monitoring the key technical support level near $28.
According to crypto analyst Altcoin Sherpa, HYPE has shown significant relative strength supported by aggressive large-investor buying. The token’s short-term bullish trend was previously confirmed by moving average crosses on expanded volume. The current corrective phase features lower highs and higher lows, pointing to controlled profit-taking rather than a full reversal.
Buyers continue to defend pullbacks near longer-term averages, suggesting institutional accumulation. Analysts caution that a sustained drop below the $28 support could trigger a short-term bearish structure. Volume patterns support a healthy consolidation, as declining turnover suggests a pause rather than panic selling.
Ripple Prime announced support for Hyperliquid on its multi-asset institutional prime brokerage platform. The integration allows institutional clients to access onchain derivatives liquidity while cross-margining exposures across various asset classes. This move bridges traditional finance and decentralized markets.
Michael Higgins, International CEO of Ripple Prime, stated, “This strategic expansion into DeFi enhances our clients’ access to liquidity while maintaining the controls expected from a global prime broker.” Market observers note the integration validates Hyperliquid’s infrastructure and may attract increased institutional participation.
