The U.S. Securities and Exchange Commission (SEC) clarified on May 29, that certain protocol staking activities on proof-of-stake (PoS) blockchain networks do not qualify as securities offerings. The Division of Corporation Finance stated that staking on PoS networks, including related services, is not subject to federal securities laws registration or exemptions. US SEC Clarifies Staking Activities Are Not Securities According to the US SEC’s Division of Corporation Finance, participants in specific protocol staking activities do not need to register transactions with the Commission under the Securities Act. The guidance applies to self-staking by node operators, self-custodial staking with third parties, and custodial staking arrangements where a custodian stakes on behalf of asset owners. Per the Division, staking rewards are compensation for the services node operators provide the network. These payments do not represent profits that others earn through being an entrepreneur or manager. As a result, staking is not covered… Read More at Coingape.com
Hyperliquid (HYPE) is showing strong technical signals across multiple indicators, with the token surging more than 15% in the last 24 hours. The platform continues to demonstrate impressive market performance, generating $47 million in fees over the past 30 days and outperforming major blockchain networks like Ethereum and Solana.
Technical indicators suggest a potential golden cross formation, meaning HYPE could test $21 or even $25.80 in the coming period.
Hyperliquid Revenue Places It Among Top Protocols In Crypto
Hyperliquid is currently one of the most successful protocols in crypto. Over the past 30 days, it has generated an impressive $47 million in fees and recently reached $1 trillion in perps volume.
While this places it behind major players such as Jito, Pumpfun, and PancakeSwap in terms of monthly revenue, Hyperliquid has surpassed significant blockchain apps and chains, including Solana, Ethereum, Raydium, and Phantom.
Selected Protocols and Chains Revenue. Last 24 hours, Last 7 Days, and Last 30 Days. Source: DefiLlama.
What makes Hyperliquid’s success particularly remarkable is that, unlike most other high-performing protocols that operate on established blockchain networks such as BNB, Solana, or Ethereum, Hyperliquid functions as its own independent chain.
With the exception of Tron, virtually all other major protocols rely on parent blockchains, whereas Hyperliquid has achieved its substantial revenue figures as a standalone entity.
Despite this impressive performance and unique positioning, HYPE has experienced considerable downward price pressure recently, trading below the $20 threshold for sixteen consecutive days, creating a notable disconnect between the protocol’s operational success and its market valuation.
HYPE DMI Shows Buyers Are In Control
The HYPE DMI (Directional Movement Index) chart shows promising momentum shifts, with the ADX (Average Directional Index) rising from 15.7 to 19, suggesting a strengthening trend conviction.
More significantly, the +DI (Positive Directional Indicator) has surged from 18 to 29.1, while the -DI (Negative Directional Indicator) has declined from 21.8 to 13.5. This crossover pattern, where +DI rises above -DI, typically signals a potential bullish reversal.
The increasing spread between these indicators and the rising ADX suggests that buying pressure is overcoming selling pressure, potentially setting the stage for HYPE to break above its recent sub-$20 trading range.
HYPE’s RSI climbing from 54.5 to 66 indicates growing bullish momentum that hasn’t yet reached extreme levels. This uptick suggests strengthening buyer interest while remaining below the overbought threshold of 70.
The fact that HYPE hasn’t reached overbought levels since December 2024 implies there may still be room for price appreciation before any potential pullback.
Together with the DMI indicators, this RSI reading reinforces the possibility of continued upward movement in HYPE’s price in the near term.
Will Hyperliquid Rise Above $20 This Week?
The HYPE Exponential Moving Average (EMA) lines are converging toward a potential golden cross formation, which occurs when a shorter-term moving average crosses above a longer-term one.
This technical pattern typically signals a strong bullish momentum shift that could propel HYPE to test its immediate resistance level at $17. Should buyers successfully break through this threshold, the path would open for HYPE to climb toward the $21 mark.
In scenarios where exceptional buying pressure materializes, Hyperliquid could extend its gains to challenge the significant resistance level at $25.80, representing a substantial recovery from its recent sub-$20 trading range.
Conversely, if the anticipated uptrend fails to materialize and bearish sentiment prevails, HYPE could experience renewed downward pressure, forcing it to test the critical support level at $12.43.
The importance of this support cannot be overstated, as a breach below this floor could trigger accelerated selling, potentially pushing HYPE under the psychologically significant $12 level for the first time since December 2024.
XRP price has shot up nearly 5% in the past 12 hours in response to the US-China trade deal. Apart from Ripple the altcoins and the broader crypto markets are taking off. Bitcoin (BTC) price has surpassed the $97,000 threshold with Ethereum and others up 2%.
Currently, XRP price stands at $2.16, hinting at a potential breakout rally if the bullish sentiments sustain. As the token goes up, let’s explore the bullish factors supporting its upside potential.
XRP Price Surge
XRP Price Nears Channel Breakout as U.S.-China Trade Deal Develops
With a near 2% rise, XRP is at $2.16. However, the bullish trend faces critical resistance from the overhead trend line and the 50 and 100 EMA lines. Furthermore, the MACD and signal lines have recently given a negative crossover.
With multiple technical setbacks, the short-term surge in bullish momentum must surpass the overhead obstacles to sustain a bullish ride. However, the overnight surge has concluded the four-day downfall streak in the XRP price trend. This increases the possibility of a price jump in XRP.
As per the trend-based Fibonacci level, the potential breakout of the 100-EMA line at $2.21 will likely propel the XRP price to the 23.60% level at $2.45. On the flip side, the 200 EMA line at $1.9978 is a strong support for the XRP price.
The sudden reversal and increased bullish sentiments in Ripple’s XRP come before the anticipation of a U.S.-China trade deal meeting in Switzerland.
A Way Ahead in the U.S.-China Trade Deal
In a recent interview, Scott Bessent, the 79th U.S. Treasury Secretary, revealed a key upcoming discussion between the U.S. and China in Switzerland over the coming weekend. Scott Bessent revealed his plan to visit Switzerland to discuss trade deals with the Swiss. Chinese delegates, presently on a visit to Europe, are willing to discuss a potential way ahead in trade deals. Bessent said,
“The world has been coming to the U.S., and China has been the missing piece. We will meet on Saturday and Sunday to discuss our shared interests.”
Bessent adds that the current tariffs and trade barriers are unsustainable, but we don’t want to decouple. The treasury secretary further added that tariffs and other barriers are coming down as the world starts to renegotiate. “We are bringing strategic industries back home, from steel to semiconductors to medicine, and Americans will get a better deal.”
With the news, the NASDAQ 100 and S&P 500 registered a near 1% jump despite a weaker opening. This reflects the sudden optimism spike in the US markets.
China’s MOFCOM Confirms The Meeting in Switzerland
In a news release, China’s Ministry of Commerce, MOFCOM, has confirmed the news that Vice Premier He Lifeng will visit Switzerland. The vice premier will be a Chinese representative for the China-U.S. Economic and Trade Affairs. During his visit to Switzerland, he will meet the U.S. Treasury Secretary Scott Bessent.
The news release also states, “China has carefully evaluated these messages, taking into full account global expectations, China’s own interests, and the appeals of American businesses and consumers. China has decided to engage with the U.S. side.”
The development in the US-China trade deal discussion has pumped up the US and crypto markets alike. Bitcoin is up by nearly 3%. Similarly, altcoins like Ethereum witnessed more than 1.50%, and it has fueled Ripple’s XRP token surge of 1.85%.
Conclusion
The XRP price surges as the global trade war witnesses the two rivals coming back to talking terms. This could result in a key pivot point for global markets and risk assets like crypto.
XRP price is under selling pressure from whales after these large addresses reduced their holdings by more than 230M XRP within 48 hours. This sale comes after President Donald Trump revealed that the US government will not buy any coins that will be part of the digital assets stockpile. As the market sentiment toward Ripple shifts, with the XRP price crash below $2?
XRP price today trades at $2.50 after a slight 1.5% decline in 24 hours.
Whales Sell 230M as Trump Dismisses Plans to Buy XRP
Data from Santiment shows that in the past 24 hours, Ripple whales holding between 10M and 100M XRP have sold more than 230M tokens worth approximately $575 million. After the recent sale, these XRP whales now hold the least amount of tokens in over a week.
XRP Whales
The whale selling coincides with President Trump’s changes to the US crypto reserve, triggering a drop in XRP price and the crypto market today. President Trump has revealed that the US government will not buy Ripple or any assets for its digital assets stockpile. According to the White House,
“The government will not acquire additional assets for the U.S. Digital Asset Stockpile beyond those obtained through forfeiture proceedings.”
“There was just no way to create guidelines which can allow the inclusion of XRP without including [random memecoin] and the optics of buying these things to enrich individuals and companies would be horrific.”
XRP price is under bearish pressure after a descending triangle pattern emerged on the daily chart. This pattern shows that sellers have been pushing the price down amid weak demand from buyers, which may push the price below $2.
Ripple price bounced from the critical support level of $2.14 as traders bought XRP earlier this week after news of the crypto strategic reserve. However, the token is now facing strong resistance at the upper trendline, with a breakout only set to occur if Ripple can break out above $2.60.
XRP price could make a strong breakout from the upper trendline due to weakening sell-side activity as seen with the rising MACD line. The RSI has also moved above 50 again, indicating that buyers are gaining strength.
XRP/USDT: 1-day Chart
As the US crypto summit happens today, XRP price could likely face volatility. Garlinghouse’s presence at the summit could boost some gains, but if the market has already priced this in, it could lead to minimal gains or even cause a selloff.
