Ripple (XRP) continues its downward trend while holding above the $1.00 support level as of Thursday. The cryptocurrency has seen a consistent decrease from its peak of $1.18 in July, indicating waning interest and a lack of positive drivers for recovery.
Maintaining positions above the $1.00 support is crucial for XRP’s potential rebound. A failure to do so could trigger a sell-off, leading to even steeper losses below this pivotal level due to diminishing buying pressure.
Bitcoin (BTC) has experienced a slight rebound, trading above $63,800 on Thursday after facing four days of consecutive declines. Since mid-July, Bitcoin’s price action has been relatively stagnant, with institutional trends remaining cautious and momentum indicators signaling a lack of decisive direction.
There is a notable hesitance in institutional demand for Bitcoin. According to SoSoValue data, the spot BTC ETF reported an outflow of $61.16 million on Wednesday, following minor inflows and outflows earlier in the week. This seemingly inconsistent flow illustrates that institutional traders are reluctant to expand their holdings amid ongoing market volatility.
Hyperliquid (HYPE) is seeing positive movement on Thursday, inching closer to the 50-day Exponential Moving Average (EMA) at $58.36. Strong institutional interest persists, highlighted by a $31 million fair value rise for Hyperliquid’s treasury, Hyperion DeFi, over the last quarter. To further its recovery, Hyperliquid needs to surpass the 50-day EMA level.
Hyperliquid demonstrates sustained interest from corporate entities with solid exposure in a climbing market. Recent data reveals that Hyperliquid Strategies has increased its HYPE holdings from 12.50 million in January to 17.60 million. Additionally, Hyperion DeFi boosted its treasury from 1.88 million to 1.93 million HYPE. The market capitalization for Hyperliquid Strategies and Hyperion treasuries surged to $980 million and $107 million in Q2, an increase from $703 million and $77 million at the close of Q1.
