XRP News Today: HYPE Token Falls 17% as Hyperliquid Volume Drops 44% Amid Broader Crypto Slump

Hyperliquid (HYPE) is currently under pressure as its price has dropped below the key $40 support level, raising concerns of a further correction to between $29 and $32 in the coming week [1]. This decline marks a significant shift in the token’s recent performance, with no public comments from its leadership offering clarity or reassurance to the market [1]. Analysts suggest that the fall reflects broader market volatility and weakened technical support, with traders closely monitoring whether the price can stabilize at the next critical level [1].

The impact of this price movement is already being felt among investors and traders, with HYPE’s native token falling 17% as of July 2025 [1]. The broader crypto market has also experienced a downturn, with Bitcoin closing the month near $114,000, a 5% weekly drop [2]. The overall cryptocurrency market capitalization stood at $3.69 trillion as of July 31, indicating a mixed but cautiously bearish tone [2]. These conditions have created a challenging environment for crypto derivatives platforms like Hyperliquid, particularly as leveraged trading activity increases the exposure of users to sudden price swings [1].

Hyperliquid’s trading volume declined by 44% in July 2025, attributed to heightened risk aversion and reduced liquidity on major exchanges [1]. Despite this, engagement and transaction data suggest some level of underlying strength in the platform, though the absence of leadership commentary has left the market largely to speculate [1]. Traders are now watching closely for signs of a potential rebound, especially if Bitcoin remains resilient amid ongoing market pressures [1].

The broader crypto ecosystem is also experiencing similar downward trends. For instance, Dogecoin (DOGE) dropped from $0.22 to $0.20 in one day, while XRP is testing a key support level at $2.930, with analysts warning of a potential slide to $2.80 if the level breaks [3]. These developments highlight the fragility of current market conditions and the systemic nature of the sell-off affecting multiple segments of the crypto market [1].

While no definitive analyst forecasts are available for HYPE’s longer-term trajectory, the immediate outlook remains cautious. The lack of leadership engagement and the influence of macroeconomic factors—such as broader market sentiment and Bitcoin’s movements—suggest that Hyperliquid’s path forward will be closely tied to the wider crypto environment [1]. Investors remain watchful of volume trends and technical indicators, seeking clarity amid continued uncertainty [1].

Sources:

[1] title: HYPE Token Drops 17% as HyperLiquid Trading Volume ...

url: https://thecurrencyanalytics.com/altcoins/hype-token-drops-17-as-hyperliquid-trading-volume-shrinks-44-188539

[2] title: Bitcoin and Altcoins Drop Abruptly as the Bears Take Control

url: https://cryptoadventure.com/wma-bitcoin-and-altcoins-drop-abruptly-as-the-bears-take-control

[3] title: XRP News Today: XRP Near Key Support as $2.930 Level ...

url: https://www.ainvest.com/news/xrp-news-today-xrp-key-support-2-930-level-tests-short-term-bullish-outlook-2508/