Hyperliquid’s HYPE token rebounded to $81.88 on Friday—up 0.8% over the previous 24 hours—recovering from an intraday decline to $77.59 after September’s US Producer Price Index (PPI) rose 6.3% year-over-year, beating expectations of 5.3%.
Inflation Drag and Long Liquidations
The unexpected inflation surge heightened market concerns surrounding the Federal Reserve's interest rate trajectory, putting downside pressure on risk-sensitive assets alongside broader digital asset pullbacks from US PPI inflation. Leveraged bullish positions absorbed most of the market losses. Data from CoinGlass revealed roughly $7 million in long liquidations for HYPE, compared to $810,000 in short liquidations.
Ripple Prime Integration and Tokenized Equities
Buying interest renewed after news that Ripple Prime introduced 24/7 institutional RWA swaps referencing over 100 Trade.xyz perpetual futures markets on Hyperliquid. The products cover equities, equity indices, ETFs, metals, energy, and foreign exchange. Eligible clients trading via Ripple Prime’s brokerage services under its CIV BVI license can use RLUSD stablecoin collateral alongside cross-margining capabilities. Market maker Virtu is among the early institutional participants.
Separately, EQX Labs revealed plans to introduce 11 tokenized US equity and ETF markets on Hyperliquid’s HyperCore infrastructure. Supported assets will include Apple, Nvidia, Amazon, and Tesla, with each token backed by shares held in custody.
Technical Outlook and Key Price Levels
Despite reclaiming $80, HYPE remains beneath its short-term moving averages:
- Resistance Levels: Primary resistance sits at the 50-day EMA of $83.10, followed by horizontal resistance at $85 and the 20-day EMA at $85.40. Reclaiming these levels opens upside toward $97.80.
- Support Zones: Structural support lies at the 100-day EMA of $76.30 and horizontal support at $75.70. Lower technical floors sit at $67.60, $61.10, and $51.50.
- Momentum Signals: The Relative Strength Index (RSI) stands near 43, while the Stochastic Oscillator reads 20 near oversold territory.
Why It Matters
The expansion of institutional brokerage access through Ripple Prime underscores how traditional market infrastructure is bridging into decentralized liquidity pools like Hyperliquid. Although institutional swap trading on Trade.xyz reference markets does not instantly drive spot demand for HYPE, it significantly enhances the ecosystem's transaction volume potential and utility profile. In the near term, market participants will monitor whether HYPE can clear its 50-day EMA at $83.10 to invalidate its short-term bearish bias.
