XRP is listed for the first time on Hyperliquid spot market, technical analysis may present a rebound opportunity

Source: TokenPost Original Title: XRP, Hyperliquid Spot Listing… Will It Signal a Reattempt to Break $2.70? Original Link: https://www.tokenpost.kr/news/cryptocurrency/322047

XRP Launches Spot Trading on Hyperliquid

XRP has been listed for spot trading for the first time on the decentralized derivatives exchange Hyperliquid, bringing diversification in liquidity and trading strategies. As technical indicators rebound, market attention is on whether XRP can break through the $2.70 resistance level.

This listing was achieved through the blockchain cross-chain platform Flare’s smart contracts. The new trading pair is FXRP/USDC, marking Hyperliquid’s first addition of XRP spot products (previously only perpetual contracts). Hyperliquid is a platform with strong liquidity and functionality among on-chain exchanges, attracting a large number of high-frequency traders and institutional participants.

Flare stated that this listing provides deep liquidity and price discovery mechanisms for XRP trading, while maintaining XRPL-based settlement functions and attracting on-chain demand. Investors can now utilize spot and perpetual contracts in conjunction to execute hedging strategies or directional trades. Currently, the XRP perpetual contract market has a position volume of $250 million.

Technical Outlook: $2.20 Support is Key

XRP declined over 2% during the market correction, touching around $2.20. Analysts point out that this price level has served as a key support line for months. If this support area can be maintained, a technical rebound could lay the foundation for a breakthrough above $2.70.

The daily chart shows XRP breaking through a multi-month downtrend line, forming a reverse breakout signal. Short-term moving averages have also turned upward, and RSI indicators are above 50, indicating buying interest without overheat.

However, the current price remains below the $2.70 resistance, requiring further upward movement to confirm a valid rebound. Particularly, a strong daily close in the $2.30-$2.50 range is needed to retest $2.70. Once this level is broken, the psychological resistance at $3.00 will become the next target.

Market Hotspot: Emerging Meme Coin Projects Gain Attention

With the technical rebound of XRP expected to intensify, the Meme coin market is also heating up. Among them, “Pepenode” has attracted attention as an emerging project, adopting a web-based mining game format. The project has raised $2.3 million amid market downturn and is growing rapidly.

Pepenode users can operate nodes and mine via web browsers, increasing earnings by upgrading in-game mining facilities. The project references the successful model of PEPE’s 1,000-fold rise in 2023-24, leading to investor anticipation.

The current pre-sale price is $0.0012161, supporting payments in ETH, BNB, USDT, and other cryptocurrencies, as well as standard credit card purchases.